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Administrators appointed to Beales

Administrators appointed to Beales

Will Wright and Steve Absolom from KPMG Restructuring have today been appointed joint administrators to Beale Limited and J E Beale Plc (“Beales”).

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Will Wright and Steve Absolom from KPMG Restructuring have today been appointed joint administrators to Beale Limited and J E Beale Plc (“Beales”).

Founded in Bournemouth in 1881, Beales operates 23 department stores in market towns across the UK selling a range of furniture, fashion, toys and cosmetics. It employs circa 1,052 members of staff.

Advisors from KPMG were initially engaged by the business in December 2019 to explore possible sale and refinancing opportunities. Despite interest from a number of parties, this process did not secure any solvent solutions for the Company, and as a result, the directors took the difficult decision to place the companies into administration.

The joint administrators will continue to trade all 23 stores as a going concern while they assess options for the business. All members of staff have been retained by the joint administrators to assist in trading the stores.

Will Wright, partner at KPMG and joint administrator, said: “For over a hundred years, Beales has been a stalwart of the high street in market towns up and down the UK, but like countless similar retailers, has found trading in recent times to be incredibly tough. With the impact of high rents and rates exacerbated by disappointing trading over the Christmas period, and extensive discussions around additional investment proving unsuccessful, there were no other available options but to place the company into administration.

“Over the coming weeks, we will endeavour to continue to operate all stores as a going concern while we assess options for the business, including dealing with prospective interested parties. During this period gift vouchers, customer deposits and customer returns/refunds will continue to be honoured.”

-ENDS-

Notes to Editors:

Location of stores:

Bournemouth  Chipping Norton 
Diss Keighley
Mansfield Poole
Peterborough Southport
Skegness Bedford
Spalding Yeovil
St Neots Kendal
Wisbech Worthing
Tonbridge Great Yarmouth 
Fareham Perth
Lowestoft  Hexham
Beccles  


For media enquiries only, please contact:

Katy Broomhead, Senior PR Manager
Tel: 0161 246 4623 / 07824 537963
Email: katy.broomhead@kpmg.co.uk

KPMG Press Office: +44 (0)207 694 877

About KPMG in the UK

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 17,600 partners and staff. The UK firm recorded a revenue of £2.40 billion in the year ended 30 September 2019. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 154 countries and has 200,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.

© 2020 KPMG LLP, a UK limited liability partnership, and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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