Kroll to quiz Green over collapse of Allders

ADMINISTRATORS TO Allders have written to Terry Green, the department store group's former chief executive, with a list of questions relating to the company's trading in the run-up to its recent administration.

Although Mr Green has had his contract terminated without compensation by Kroll, he faces questions over what happened to the retail business. Yesterday Mr Green confirmed that Kroll had issued a letter. He said: "The have written to me. I don't know whether they are investigating. There's a raft of questions waiting for me at my flat."

Under the terms of the administration, Kroll has to instigate an investigation into the directors of the company under Sections 3 and 4 of the Insolvent Companies Rules 1996 and the Company Directors Disqualification Act 1986. Such a move is required under UK company law whenever a company goes into administration.

Kroll said it wanted to be in a position to decide on the company's fate by tomorrow. It wants to be in a position to adopt a strategy of either breaking the business up and selling stores piecemeal or keeping it together and selling it as a going concern. It added that uncertainty over the store group's future was affecting its ability to continue as a going concern and therefore a decision on its fate had to be taken soon.

The post mortem over what went wrong is expected to become increasingly bitter. One Allders employee who contacted The Independent, but who did not want to be named, blamed Mr Green and the company's commercial director, Phil Cox, for its woes. He said: "If Mr Green was so concerned about our future and that of our pensioners, why did he spend so much time relaxing at his holiday home in Palma in the days leading up to the administration order coming into effect?"

Asked why he thought Allders collapsed into administration, Mr Green said he could not comment publicly about the situation. However, some people who worked for the company are pointing the finger of blame at its lenders, which originally included Lehman Brothers, the investment bank, and Barclays, as well as its largest shareholder, Minerva.

They are blamed for failing to support the company and for pulling the plug too early. The critics argue that Allders was beginning to show signs of turning its trading performance around and stemming its losses.

However, it is understood the three backers did provide extra working capital to help the business through the Christmas trading period. Lehman Brothers sold its original pounds 90m debt position two weeks ago to the restructuring specialist Hilco, for a consideration of pounds 30m, before the administration took effect.

Kroll is now assimilating the 60 or so expressions of interest it has received from potential buyers of Allders' assets.

Voices
Hunted: A stag lies dead on Jura, where David Cameron holidays and has himself stalked deer
voicesThe Scotland I know is becoming a playground for the rich
News
newsMcKamey Manor says 'there is no escape until the tour is completed'
News
people'When I see people who look totally different, it brings me back to that time in my life'
Arts and Entertainment
Soul singer Sam Smith cleared up at the Mobo awards this week
newsSam Smith’s Mobo triumph is just the latest example of a trend
PROMOTED VIDEO
News
ebooksAn unforgettable anthology of contemporary reportage
News
news
News
people

Britain First criticised for using actress's memory to draw attention to their 'hate-filled home page'

Arts and Entertainment
A photograph taken by David Redferm of Sonny Rollins
people
News
news

Emergency call 'started off dumb, but got pretty serious'

Extras
indybest
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Compensation and Benefits Manager - Brentwood - Circa £60,000

£60000 per annum: Ashdown Group: Compensation and Benefits Manager - Compensat...

Data Analyst/Planning and Performance – Surrey – Up to £35k

£30000 - £35000 Per Annum plus excellent benefits: Clearwater People Solutions...

IT Systems Business Analyst - Watford - £28k + bonus + benefits

£24000 - £28000 per annum + bonus & benefits: Ashdown Group: IT Business Syste...

Markit EDM (CADIS) Developer

£50000 - £90000 per annum + benefits: Ampersand Consulting LLP: Markit EDM (CA...

Day In a Page

Wilko Johnson, now the bad news: musician splits with manager after police investigate assault claims

Wilko Johnson, now the bad news

Former Dr Feelgood splits with manager after police investigate assault claims
Mark Udall: The Democrat Senator with a fight on his hands ahead of the US midterm elections

Mark Udall: The Democrat Senator with a fight on his hands

The Senator for Colorado is for gay rights, for abortion rights – and in the Republicans’ sights as they threaten to take control of the Senate next month
New discoveries show more contact between far-flung prehistoric humans than had been thought

New discoveries show more contact between far-flung prehistoric humans than had been thought

Evidence found of contact between Easter Islanders and South America
Cerys Matthews reveals how her uncle taped 150 interviews for a biography of Dylan Thomas

Cerys Matthews on Dylan Thomas

The singer reveals how her uncle taped 150 interviews for a biography of the famous Welsh poet
DIY is not fun and we've finally realised this as a nation

Homebase closures: 'DIY is not fun'

Homebase has announced the closure of one in four of its stores. Nick Harding, who never did know his awl from his elbow, is glad to see the back of DIY
The Battle of the Five Armies: Air New Zealand releases new Hobbit-inspired in-flight video

Air New Zealand's wizard in-flight video

The airline has released a new Hobbit-inspired clip dubbed "The most epic safety video ever made"
Pumpkin spice is the flavour of the month - but can you stomach the sweetness?

Pumpkin spice is the flavour of the month

The combination of cinnamon, clove, nutmeg (and no actual pumpkin), now flavours everything from lattes to cream cheese in the US
11 best sonic skincare brushes

11 best sonic skincare brushes

Forget the flannel - take skincare to the next level by using your favourite cleanser with a sonic facial brush
Paul Scholes column: I'm not worried about Manchester United's defence - Chelsea test can be the making of Phil Jones and Marcos Rojo

Paul Scholes column

I'm not worried about Manchester United's defence - Chelsea test can be the making of Jones and Rojo
Frank Warren: Boxing has its problems but in all my time I've never seen a crooked fight

Frank Warren: Boxing has its problems but in all my time I've never seen a crooked fight

While other sports are stalked by corruption, we are an easy target for the critics
Jamie Roberts exclusive interview: 'I'm a man of my word – I'll stay in Paris'

Jamie Roberts: 'I'm a man of my word – I'll stay in Paris'

Wales centre says he’s not coming home but is looking to establish himself at Racing Métro
How could three tourists have been battered within an inch of their lives by a burglar in a plush London hotel?

A crime that reveals London's dark heart

How could three tourists have been battered within an inch of their lives by a burglar in a plush London hotel?
Meet 'Porridge' and 'Vampire': Chinese state TV is offering advice for citizens picking a Western moniker

Lost in translation: Western monikers

Chinese state TV is offering advice for citizens picking a Western moniker. Simon Usborne, who met a 'Porridge' and a 'Vampire' while in China, can see the problem
Handy hacks that make life easier: New book reveals how to rid your inbox of spam, protect your passwords and amplify your iPhone

Handy hacks that make life easier

New book reveals how to rid your email inbox of spam, protect your passwords and amplify your iPhone with a loo-roll
KidZania lets children try their hands at being a firefighter, doctor or factory worker for the day

KidZania: It's a small world

The new 'educational entertainment experience' in London's Shepherd's Bush will allow children to try out the jobs that are usually undertaken by adults, including firefighter, doctor or factory worker