Last-minute reprieve for legacy department store
Jaeger Boss Harold Tillman has bought the leasehold of the Allders department store in Croydon for an undisclosed sum. The store was expected to close in a matter of days, with the loss of 500 jobs. It is understood that Tillman has also acquired the Allders brand name.

The store will continue to trade as Allders and be run by Tillman's business partner Andrew MacKenzie. He has been appointed chief executive of Allders (Croydon) Ltd, which will operate the store.

Minerva owns the freehold and Tillman (pictured) is believed to want to work with the property company on redeveloping the site.

Allders Croydon is the UK's third-largest shop and has been trading for almost 150 years.

The deal ends speculation that Minerva was about to sell the lease to John Lewis.