Palmers in talks for Beales to take over its stores in Great Yarmouth and Lowestoft
Palmers department store in Market Place, Great Yarmouth. - Credit: Archant
An iconic family-owned department store in Great Yarmouth is in advanced talks for a takeover.
Beales and its parent company Portnard, are in talks to acquire the share capital of Palmers Department Stores in Yarmouth and Lowestoft.
Beales is a nationwide group based in Bournemouth with 21 stores.
A statement from Palmers chairman Bruce Sturrock said: “Beales and Portnard look forward to working with the Palmers team to complete the transaction.”
It is understood staff were informed today.
You may also want to watch:
Beales already trade in a number of towns in East Anglia and the statement adds the purchase does not affect any existing stores.
The Market Place business was started by Garwood Palmer Burton in 1837 – and remains on the same site, though much expanded.
Most Read
- 1 Minke whale washes up on beach
- 2 Jail for 'Jekyll and Hyde' builder who made customer 'fear for her life'
- 3 13 cars targeted in tyre-slashing spree
- 4 Council pay out six claims to drivers after car park ramp damaged vehicles
- 5 Woman in her 20s among 31 Covid patients to die in five days at hospital
- 6 'Business as usual' as shopping mall enters administration
- 7 Man, 23, knocked off bike during robbery
- 8 Neighbours oppose off-licence over crime fears
- 9 Man in court over Norfolk Broads' boat break-ins during lockdown
- 10 Timeline: When should you receive the coronavirus vaccine?
Palmers entered Lowestoft in 2004 when they took over the store previously known as Chadds, which in itself had 100 years of history behind it.
In recent years Palmers has announced closures of their stores at Bury St Edmunds and Dereham.
Beales has stores at Beccles, Diss and Lowestoft - the latter in the same road as Palmers store.
