Alan Clore purchased a 5.5% stake in Allied Stores.

The British investor said he might add to his stake but had no intention of seeking control of the New York-based retailer, which is fighting a hostile takeover bid from Campeau Corp. In a filing with the SEC, Clore said he bought the stake, which includes some call options, for $92.2 million “for investment purposes in connection with bona fide arbitrage activities.” Meanwhile, Allied said it is weighing alternatives such as the purchase of other businesses or the sale of assets. Allied operates such stores as Brooks Bros. and Bonwit Teller.