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.

Start your day with The Independent, sign up for daily news emails
Life and Style
Steve Shaw shows Kate how to get wet behind the ears and how to align her neck
healthSteven Shaw - the 'Buddha of Breaststroke' - applies Alexander Technique to the watery sport
Arts and Entertainment
The sight of a bucking bronco in the shape of a pink penis was too much for Hollywood actor and gay rights supporter Martin Sheen, prompting him to boycott a scene in the TV series Grace and Frankie
tv
Sport
footballShirt then goes on sale on Gumtree
Voices
Terry Sue-Patt as Benny in the BBC children’s soap ‘Grange Hill’
voicesGrace Dent on Grange Hill and Terry Sue-Patt
Arts and Entertainment
Performers drink tea at the Glastonbury festival in 2010
music
Arts and Entertainment
Twin Peaks stars Joan Chen, Michael Ontkean, Kyle Maclachlan and Piper Laurie
tvName confirmed for third series
Sport
Cameron Jerome
footballCanaries beat Boro to gain promotion to the Premier League
Arts and Entertainment
art
News
ebookA unique anthology of reporting and analysis of a crucial period of history
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

Guru Careers: Software Developer / C# Developer

£40-50K: Guru Careers: We are seeking an experienced Software / C# Developer w...

Neil Pavier: Management Accountant

£45,000 - £55,000: Neil Pavier: Are you looking for your next opportunity for ...

Sheridan Maine: Commercial Accountant

£45,000 - £55,000: Sheridan Maine: Are you a newly qualified ACA/ACCA/ACMA qua...

Laura Norton: Project Accountant

£50,000 - £60,000: Laura Norton: Are you looking for an opportunity within a w...

Day In a Page

Abuse - and the hell that came afterwards

Abuse - and the hell that follows

James Rhodes on the extraordinary legal battle to publish his memoir
Why we need a 'tranquility map' of England, according to campaigners

It's oh so quiet!

The case for a 'tranquility map' of England
'Timeless fashion': It may be a paradox, but the industry loves it

'Timeless fashion'

It may be a paradox, but the industry loves it
If the West needs a bridge to the 'moderates' inside Isis, maybe we could have done with Osama bin Laden staying alive after all

Could have done with Osama bin Laden staying alive?

Robert Fisk on the Fountainheads of World Evil in 2011 - and 2015
New exhibition celebrates the evolution of swimwear

Evolution of swimwear

From bathing dresses in the twenties to modern bikinis
Sun, sex and an anthropological study: One British academic's summer of hell in Magaluf

Sun, sex and an anthropological study

One academic’s summer of hell in Magaluf
From Shakespeare to Rising Damp... to Vicious

Frances de la Tour's 50-year triumph

'Rising Damp' brought De la Tour such recognition that she could be forgiven if she'd never been able to move on. But at 70, she continues to flourish - and to beguile
'That Whitsun, I was late getting away...'

Ian McMillan on the Whitsun Weddings

This weekend is Whitsun, and while the festival may no longer resonate, Larkin's best-loved poem, lives on - along with the train journey at the heart of it
Kathryn Williams explores the works and influences of Sylvia Plath in a new light

Songs from the bell jar

Kathryn Williams explores the works and influences of Sylvia Plath
How one man's day in high heels showed him that Cannes must change its 'no flats' policy

One man's day in high heels

...showed him that Cannes must change its 'flats' policy
Is a quiet crusade to reform executive pay bearing fruit?

Is a quiet crusade to reform executive pay bearing fruit?

Dominic Rossi of Fidelity says his pressure on business to control rewards is working. But why aren’t other fund managers helping?
The King David Hotel gives precious work to Palestinians - unless peace talks are on

King David Hotel: Palestinians not included

The King David is special to Jerusalem. Nick Kochan checked in and discovered it has some special arrangements, too
More people moving from Australia to New Zealand than in the other direction for first time in 24 years

End of the Aussie brain drain

More people moving from Australia to New Zealand than in the other direction for first time in 24 years
Meditation is touted as a cure for mental instability but can it actually be bad for you?

Can meditation be bad for you?

Researching a mass murder, Dr Miguel Farias discovered that, far from bringing inner peace, meditation can leave devotees in pieces
Eurovision 2015: Australians will be cheering on their first-ever entrant this Saturday

Australia's first-ever Eurovision entrant

Australia, a nation of kitsch-worshippers, has always loved the Eurovision Song Contest. Maggie Alderson says it'll fit in fine