Allders' demise has proved an opportunity for Philip Green's Bhs chain. The entrepreneur will establish a spin-off Bhs home furnishing arm with the 10 stores he acquired in the auction of the collapsed department store's estate.

Green's new chain could fill the void left by Allders, which was once famous for its home offer. Green said he had not decided on the fascia yet, but said the move 'was something he had been thinking about for some time'. He aims to have the converted stores open by the summer and the offer would include furniture, beds and carpets.