Property company washes hands of failed department store retailer
Allders' holding company Scarlett Retail has been let off£21 million in debt. Property group Minerva announced today in an interim statement that it had written off the loan to Scarlett and expected no further adverse impact on its business.
Minerva retains the freehold of the Allders store in Croydon and has terminated a deal to build new stores. Former Allders boss Terry Green is understood to be interested in acquiring the Croydon store.
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