Allders department store is to close for good after its administrators fail to secure a buyer for the Croydon landmark, leaving 850 jobs in the balance.

The firm Duff & Phelps, who were appointed to the 150-year old store in July, announced in a statement that the final day of trading was likely to be 22 September.

Geoff Bouchier, joint administrator and partner at Duff & Phelps, said: 'It is with sadness that we are making this announcement as we recognise that the store is an historic and iconic landmark in the local community.

'We would like to take this opportunity to thank the staff of Allders, the concession partners, Croydon Council and the landlord Minerva for their continued support throughout the administration trading period.'

The announcement brings to an end the store's long and eventful history which once saw it as a genuine competitor to Selfridges but has struggled for the past 10 years building up large debt burdens and was taken into administration for the second time in seven years in June.