According to Sky News the department store group Beale,
which has 32 stores, is the latest retailer to be in talks over its debts. It
is believed that Beale has a net debt of around £5.2 million but is nearing a
deal that may involve switching its banking business away from HSBC.
PricewaterhouseCoopers (PwC), the audit firm, is advising Beale on the
refinancing. This latest news follows on from yesterday’s news that New Look is
in talks about restructuring its debt and HMV and Jessops calling in administrators
this month.
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