A former boss of Allders is preparing a bid to save the ailing UK department stores group from administration, it was reported today.

Discount clothing retailer Primark - which trades as Penneys in Ireland - is targeting Britain's Allders department stores, which were put on the market by property group Minerva, it was reported today.

Profit takers pounced on blue-chip stocks today as a downbeat opening on Wall Street sparked a late sell-off on this side of the Atlantic.

A poor start to the session on Wall Street and jitters about tomorrow’s UK inflation data left London shares firmly in the red today.

Slight gains by Marks & Spencer proved inconclusive in helping investors to decide the likely winner of the retailer’s £9.1bn (€13.6bn) takeover battle.

Minerva – the property company currently involved in the building of the tallest structure in the City of London – saw its share price rocket 28% today after confirming it had received a takeover approach.

A 100-YEAR-OLD car, which has been painstakingly restored to its original condition, will again be seen on the roads of Cork and Kerry this weekend.

Shares in Selfridges are set for further gains this week as more potential bidders for the department stores group emerged over the weekend.

A strong close on Wall Street last night failed to inspire London traders this morning, as the FTSE 100 Index headed for a subdued end to the week.