Only bid on the table falls short of department store chain's obligations
Allders is understood to have received an offer of between£50 million and£85 million from private equity firm Alchemy. A report from The Times said the offer, tendered last night, is the only one on the table for the department store chain.

The bid falls far short of covering Allders' outstanding debts, including a hefty pension scheme obligation - making it unlikely that administrator Kroll would accept such a deal. However, if it falls through, retailers such as House of Fraser and Debenhams are thought to be interested in buying selected sites.

Kroll administrator Andrew Pepper will meet with Alchemy today to discuss the offer.