1,300 jobs at risk as Beales department store faces collapse
One of the country’s oldest department store chains is expected to go into administration this week.
Beales, which was founded in 1881, is set to hold a board meeting today to decide its fate, which could see KPMG appointed administrator to the firm.
The collapse of the retailer would put 1,300 full-time jobs at risk across its 22 stores nationwide.
A notice of intention to appoint insolvency practitioners was filed ten days ago, with the firm attempting to find a buyer.
In a bid to save the company, rent reductions have been sought on some of its stores across the country.
Beales owner Tony Brown expressed his disappointment in local councils for failing to support the firm. He told the BBC: “At the moment, in my view councils really don’t care.
“They get their business rates, whether we’re there or not, because the landlord pays if the store closes.”
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