KPMG’s Will Wright said: “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.”
Mr Wright, who is the joint administrator to Beales, added during this period gift vouchers, customer deposits and customer returns and refunds will continue to be honoured.
Beales has stores in the following towns and cities:
source: express.co.uk