Beales Perth store closes today
The joint administrators of the Beales department store chain, Will Wright and Steve Absolom from KPMG, have confirmed that all remaining Beales stores, including Perth, will close today.
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.
Beales went into administration in January this year, after the company reported a loss of £3.1 million for the year to March 2019.
Staff will continue to work until close of business on 21st March 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 24th February and Great Yarmouth on 15th March.