Floundering UK department store chain Allders is on sale again less than two years after property group Minerva acquired it for £132 million.

Minerva, which is also on the market, said it has received interest from the current management team of Allders, which is headed by Terry Green, and a number of other suitors.

Since Minerva took over the chain, Allders has consistently struggled to make a profit.

Allders operates 45 stores, mostly in the south east of England.