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Department store chain Beales with a branch in Wisbech warns it is close to collapse

Beales - which is said to be one of the oldest department store chains in the country - with branches in Wisbech and Spalding is in danger of collapse.
The chain, which began trading in Bournemouth in 1881, said 22 stores and 1,000 jobs were at stake if it cannot find a buyer.

The firm is negotiating with its landlords to try to agree rent reductions.

The BBC is also reporting that it is in talks with two potential buyers - a rival retailer and a venture capital investor.

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