BEALES has this morning published an announcement that it has appointed administrators.

The company is almost entirely owned by chief executive Tony Brown, but it has to publish announcements to the London Stock Exchange as a small minority of shares are in the hands of a public limited company.

Bournemouth Echo:

Its announcement this morning reads:

"Beale Limited ("Beale" or the "Company") announces that it has now appointed Will Wright & Steve Absolom of KPMG LLP as Joint Administrators to the Company. Any enquiries regarding the Company or its administration should be directed to

"It has also been agreed with the Panel on Takeovers and Mergers that the formal sales process, announced on 17 December 2019, is terminated, and the Company is no longer considered to be in an 'offer period', as defined in the City Code on Takeovers and Mergers. Parties with a continuing interest in making a proposal should contact Mark Compton on"