Allders has its sights set on autumn for the launch of its first ranges supported by the full impetus of a new product team.
Since Terry Green arrived as Allders chief executive in February last year he has appointed 40 executives in buying, merchandising and marketing in the£30,000-plus salary bracket.
During that time, Allders has worked to force down the 40 per cent terminal stock overhang left by previous management. Terminal stock has now been reduced to 5 per cent.
'We've cleared out the rubbish and we've built the new management team,' Green said. However, he said the level of operational change at the business had meant the timeline for the return to profitability, initially set for June year-end, had been delayed.
One former Allders executive said: 'I don't think Terry was initially aware of the severity of the situation at Allders. He's made some ambitious changes and it will take time for them to take effect.'
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