All remaining Beales stores will close this week

The joint administrators of the Beales department store chain, Will Wright and Steve Absolom from KPMG, have confirmed that all remaining Beales stores will close tomorrow, Thursday, March 19, with the overall loss of 1,000 jobs.

The chain included sites on Southport’s Lord Street and in Kendal.

While this is two weeks ahead of the administrators’ original schedule, the impact of Covid-19 on the retail environment has meant that trading can no longer be supported.

Staff will continue to work until close of business on March 21, to help box-up residual stock and assist with various other closure issues.

Regrettably, the majority of employees will then be made redundant, with all salaries paid up to, and including, the date of their redundancy.

Will Wright, partner at KPMG and joint administrator, said: “Whilst 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.

“We will be working with employees to ensure they have all the necessary information to submit claims to the Redundancy Payments Service, together with details of who to contact for any help and support they may require.”

Two of the 23 Beales stores have already closed – Hexham, on February 24, and Great Yarmouth on March 15.

The business was put into administration on January 20.

Beales’ latest accounts showed that pre-tax losses more than doubled to £3.2m in the year to March 2019 from £1.5m a year before, while revenues remained static at £48.3m. The business had net current debts of £15.8m.

The business said that trading had been hampered by an industry-wide downturn in sales of women’s fashion and the 2018 Summer heatwave.