Beales completes acquisition of Palmers
Bournemouth based department store chain Beales has completed the acquisition of Palmer’s remaining two stores in Great Yarmouth and Lowestoft, East Anglia.
Completed with the assistance of law firm Blake Morgan, the deal sees Beales take over Palmer’s leases, assets and name.
Blake Morgan has advised Beales for over 20 years. Partner Stephen Archibald said: “It is well known that many traditional High Street retailers are facing unprecedented pressures but Beales' concentration on market towns and its strategic focus at a community level means they are very experienced at leveraging opportunities in a difficult market and renowned for delivering a great customer experience that meets local demand.
“This latest acquisition was negotiated and completed within a week of Blake Morgan being engaged. With 23 stores in a variety of locations nationwide, we are proud to have worked with Beales for over 20 years and wish Tony Brown and his dedicated team every success with their expansion plans.”