It has been confirmed today that the Bedford branch of Beales will close within eight weeks, despite the joint administrators saying that they are still in discussions with interested parties regarding the sale of the remaining stores.
As no offers have been received in respect of selling all 23 stores as a going concern, the joint administrators are now in the process of developing plans with store directors and management teams to implement the closure of 12 stores – including the Silver Street store.
Other stores confirmed for closure include the brand’s flagship property in Bournemouth.
A statement from the joint administrators, KPMG, said, “It is anticipated that these stores will continue to trade, running closing down sales for around eight weeks.
“Employees across these stores will be retained to assist with trading over the weeks ahead, and the joint administrators and their teams will continue to work closely with staff during this period.
“There is currently no intention to implement closure plans for the remaining 11 stores, which will all continue to operate as usual until an outcome with regards to a sale of the business is clarified.”
Cllr Henry Vann, town centre portfolio holder at Bedford Borough Council said, “This is obviously deeply sad news for those affected and for residents who use Beales.
“As the national challenge for high streets continues to particularly affect department stores and chains, we will continue to work hard with local business champions, including Love Bedford and our partners to promote Bedford and attract people and business to our beautiful town centre.”
The stores to be closed are: