All Beales stores to close in accelerated process
All remaining Beales stores will close permanently two weeks ahead of schedule, its administrators have confirmed.
Beales had appointed KPMG to handle the administration process earlier this year. It had planned to shut its 23 stores over the course of eight weeks, after failing to find a buyer.
However, the administrators said the impact of coronavirus on the retail environment has meant its trading can “no longer be supported”. The stores will close tomorrow (19 March).
All remaining Beales stores will close permanently two weeks ahead of schedule, its administrators have confirmed.
Beales had appointed KPMG to handle the administration process earlier this year. It had planned to shut its 23 stores over the course of eight weeks, after failing to find a buyer.
However, the administrators said the impact of coronavirus on the retail environment has meant its trading can “no longer be supported”. The stores will close tomorrow (19 March).
Will Wright, partner at KPMG and joint administrator, said: “While it is regrettable that we have had to take this decision, especially given the fantastic support that the staff have provided to the business and the administrators since our appointment, the impact of these unprecedented circumstances has left us with no alternative option.”
Two of the 23 Beales stores have already closed – in Hexham, on 24 February, and in Great Yarmouth, on 15 March.
Founded in Bournemouth in 1881, Beales operated mainly in market towns across the UK. It sold a range of furniture, fashion, toys and cosmetics.
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