Barclays debt takes priority over that of Charlton

The £10m owed by Allsports to Barclays Bank will take priority over debts to suppliers and Charlton after the sports clothing retailer went into administration. Wire services claim that the club 'is thought to be awaiting a substantial amount in sponsorship fees by Allsports.'

The chain will continue to trade for the time being, but some store closures and job losses are inevitable. Administrators will weigh up offers for the remaining part of the business. However, Dermot Power, partner at administrators BDO Stoy Hayward, did not think there would be a quick sale.