Beales store in Lynn set to close.

Beales department store in King’s Lynn is to close by the end of the year, the retailer has announced this week.

The Vancouver Quarter branch has 25 staff and a further 13 are employed by concessionaires.

A spokesman for Beales said the lease expired in December and the board had decided not to renew it.

The troubled company proposed a financial rescue package – known as a company voluntary arrangement (CVA) – last month in a bid to stay afloat.

The plan was backed by creditors and the department store group, founded in 1881, reduced its rents by 70 per cent on 11 of its stores including Lynn while it negotiated with landlords.

A Vancouver Quarter spokesman said: “We are disappointed to learn that despite supporting the store during its CVA, Beales has taken the decision to include King’s Lynn in its store closures.

“The store has been part of the town for more than 30 years and it is far too early to speculate on what will happen with the unit.

“Our focus will be on supporting the staff over the coming months.”

Beales, based in Bournemouth, began trading in 1881 and took over the Lynn store from Westgate around five years ago.

It also has branches in Wisbech and Spalding which are not affected by the announcement.

The Lynn store is holding a closing down sale.