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Beales collapses into administration

Christian Fernsby |
One of Britain's oldest department stores has collapsed into administration, putting 1,000 jobs at risk.

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Topics: BEALES    ADMINISTRATION   

Beales which began trading in Bournemouth in 1881, has 22 stores nationwide including Bedford, Diss in Norfolk, Lowestoft, Peterborough, St Neots in Cambridgeshire and Wisbech.

The retailer has failed to find a buyer after it announced it was in trouble last week.

Chief executive Tony Brown had previously spoken about how the retailer has struggled with difficult trading conditions and criticised the "lunacy" of high business rates.

Beales has appointed KPMG as administrators after failing to secure a sale.

The company's website has been taken down, although the stores will continue trading while administrators look for a buyer.


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