The future of Basildon's Allders store was today set to be secured in a multi-million-pound buyout.
Debenhams, the country's second largest store chain, was expected to snap up the Allders store in Basildon town centre as part of a seven-store package.
The stores included in the deal are Basildon and Ilford in Essex, and others in Surrey, Portsmouth, Hants, and Slough, Berks.
A spokesman for Debenhams would neither confirm nor deny the rumours and Allders would only confirm that negotiations were continuing.
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