The stores to close are: the Bournemouth flagship (pictured above), Hexham, Worthing, Tonbridge, Peterborough, Mansfield, Keighley, Perth, Spalding, Wisbech, Bedford and Yeovil.
It is anticipated that the stores will run closing-down gross sales for around 8 weeks. Workforce will be retained to help with this investing. The remaining eleven stores will continue on to operate as regular until an result with regards to a sale of the business is clarified.
The battling section store appointed KPMG as directors on twenty January, immediately after failing to locate a consumer or new financial investment for the business.
On the closures KPMG stated: ”The joint directors of the Beales section store chain have verified that they keep on being in energetic conversations with intrigued events pertaining to a likely issue sale of a selection of stores.
“Unfortunately, having said that, no presents have been acquired in respect of marketing all 23 stores as a likely issue. As a result, the joint directors are now in the system of producing plans with store directors and administration groups to employ the closure of twelve stores.”
Before this week, the joint directors announced 32 redundancies, generally throughout its head place of work.
The section store commenced investing in Bournemouth in 1881. Its functioning losses grew to £2m in the calendar year to 31 March 2019, from £865,000 the calendar year in advance of. Turnover was £48.3m in 2019, marginally down from £48.7m in 2018.