Department store Beales’ website has gone down as the chain is poised to enter administration.
The retailer is due to hold a board meeting today (20 January) that could lead to KPMG being appointed administrator to the business later this week, Sky News reports.
Failure to adapt to a rapidly changing retail environment and its store locations in secondary towns have pushed the business to the brink of collapse, Drapers previously reported.
Its operating losses grew to £2m in the year to 31 March 2019, from £865,000 the year before. Turnover was £48.3m in 2019, marginally down from £48.7m in 2018.
Drapers has approached Beales for comment.