Struggling department store chain to close after being unable to secure a buyer
Following news earlier this month that it would be closing 12 of its 23 stores as it looked for a new owner, department store chain Beales has announced it will be closing the remaining 11 stores after failing to secure a buyer.
Beales fell into administration in January after failing to secure a new owner.
Administrators at KPMG said they are continuing discussions with “a number of interested parties” over a sale, but they are preparing to shut the remaining stores after failing to receive any “deliverable offers”.
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.”
The final 11 stores set to close are located in: Beccles, Chipping Norton, Diss, Fareham, Great Yarmouth, Kendal, Lowestoft, Poole, Skegness, Southport, and St Neots.