NEWS

All Beales stores to close as no buyer comes forward

Published on: 19th February 2020

The final 11 department stores are set to shut, and a further 20 staff made redundant at Beales head office.

After going into administration last month, the retailer announced plans to close 12 of its 23 shops. Now, the remaining 11 stores have been earmarked for closure, with the loss of many more jobs.

Administrators at KPMG are continuing discussions with “a number of interested parties” over a sale, but are preparing to close the remaining stores after failing to receive any “deliverable offers”. The stores are expected to continue trading for around two months while closing down sales take place, with staff being retained during this period. KPMG added that, if a sale is not achieved, the closure date of each store will vary, depending on trading performance.

A further 20 staff have also been made redundant at Beales head office.

Will Wright, joint administrator for the company, said: “We’d like to thank all Beales employees for their wholehearted support and assistance during the administration process. We understand that the failure to achieve a sale so far will come as disappointing news, but can assure them that we will continue in our efforts to secure some form of positive outcome.”

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