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Published on 9 - August - 2010
 

Beales acquires Rochdale department store

Beales has added a further store to its growing estate with the purchase of Rochdale’s Westgate Department Store.

Beales acquires Rochdale department store
Beales has bought the store from the Anglia Regional Co-op

Beales already operates three department stores in the north-west - in Bolton, Southport and Kendal. The purchase brings the retailer's number of stores to 13.

Beales reportedly paid the Anglia Regional Co-operative Society £300,000 for the store's assets and has signed a 25-year lease on the premises.

The latest addition comes just two months after Beales' acquisition of Robbs department store in Hexham from the administrators of Vergo Retail.

In a statement, Beales said: "We are impressed with Rochdale's town centre plan and the new planned transport links and believe the ownership of the store will provide the people of Rochdale with a better mix of shopping in the town than the current predominance of discount retailers."

The purchase will be completed on September 5.

Beales' pre-tax profits leapt 67% in the six months to May 1, from £543,000 to £909,000, and the group has stated its intention to expand its presence further.


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