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SUITORS of Allders just have until tomorrow to make a bid for the 45-store retail chain, the group’s administrators said yesterday.
ADMINISTRATORS of the collapsed Allders department store group yesterday made 130 staff redundant and confirmed the departure of three senior executives.
SOURCES close to Scottish entrepreneur Tom Hunter denied speculation yesterday that he is looking to offload his 11 per cent stake in the retail giant House of Fraser.
SCOTS entrepreneur Tom Hunter yesterday called on retailer House of Fraser to show its hand amid growing speculation that management at the department store chain are mulling a buyout.
SCOTTISH retail entrepreneur Tom Hunter yesterday backed away from his second takeover battle in a fortnight as he agreed to an increased offer for Allders department store.
THE ante was upped in the takeover battle for the Allders department store group yesterday when the only bidder with an offer on the table warned it might let it lapse if more acceptances were not received.
SCARLETT Retail, the firm set up by property developer Minerva to bid for department store group Allders, today gave shareholders until Wednesday to accept its offer, warning the deal may collapse otherwise.
DEPARTMENT store group Allders today said it suffered a poor festive season, with like-for-like sales falling 2.6 per cent in the 16 weeks to January 18.
TOM Hunter is facing his toughest test yet if he chooses to bid for department store group Allders after Minerva said it would not sell its 26.2% stake in the next year to anyone other than its own bid vehicle Scarlett Retail.
PROPERTY group Minerva yesterday dismissed rumours that it was considering a sale of its 26.2 per cent stake in Allders and underlined its determination to press ahead with its agreed £132 million bid for the department stores group.
DEPARTMENT store chain Allders said 7.5 per cent of its shareholders have backed a £132 million takeover deal from property group Minerva.
TOM Hunter will not make a move on House of Fraser until after shareholders in rival department store group Allders vote on the £132m takeover bid from Minerva vehicle Scarlett Retail on Wednesday.
SCOTTISH entrepreneur Tom Hunter broke cover yesterday, announcing that he could make a rival offer for Allders as he breached a key 7.5 per cent stakeholding level in the department store chain.
SCOTS entrepreneur Tom Hunter, property group Minerva-with-added-Terry-Green, and department store chains Allders and House of Fraser resemble a Clint Eastwood-style western movie stand-off.
THE Mexican stand-off between Tom Hunter, Allders, Minerva and House of Fraser took a new turn yesterday as Hunter issued a Stock Exchange statement which said he may or may not make a bid for Allders.
SCOTTISH entrepreneur Tom Hunter is understood to have splashed out about £1.7 million yesterday in snapping up a further 1.3 per cent in department store group Allders, currently at the heart of a takeover bid.
SCOTTISH entrepreneur Tom Hunter is expected to confirm today he has bought another one million shares in department store chain Allders to strengthen his bargaining position in the takeover tussle for the company.
SPECULATION is mounting that the Scottish retail entrepreneur Tom Hunter is preparing a potential takeover bid of the department store Allders, and may merge it with fellow bid target House of Fraser.