Historic store chain enters CVA

A RESTRUCTURING specialist has been appointed to help the Beales Department Store Group navigate out of troubled waters following the announcement it has entered into a company voluntary arrangement.

Rob Croxen, KPMG’s restructuring partner, said the profitability of the group founded in 1881, which has stores in Bolton, Kendal, Rochdale and Southport among its 30 branches, has been hampered by expensive legacy leases which were agreed many years ago.

“The CVA seeks to strike a balance which provid... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...