The two Pearsons department stores, in Enfield, north London, and Bishops Stortford, Hertfordshire, have been bought by Morleys Stores.
The deal will extend Morleys’ department store portfolio to eight. Its existing outlets, which are all in and around London, are Elys of Wimbledon, Bodgers of Ilford, Smith Brothers in Tooting, Roomes Fashion and Home in Upminster, Morleys of Brixton and James Selby of Islington.
Morleys described the acquisition of Pearsons as a “perfect strategic and geographical fit”.
Pearsons has remained a family-run company since its inception in 1903, and has traded in Church Street in Enfield for over a century. It says the deal will guarantee the development of the business and provide security for the employees.