One of the Uk’s oldest department stores has collapsed into administration, putting more than 1,000 jobs at risk. the BBC reports that KPMG have been appointed administrators after failure to secure a sale amongst last minute talks last week. The business has tried to secure rent reductions and was in negotiations with potential investors and buyers in a bid to preserve itself according to sources.
The website for Beales is currently down and there are no plans for immediate store closures. Beales has 22 stores located across the UK.
Beales has stores in the following towns and cities:
- Chipping Norton
- St Neots
Full report on the BBC Website