Hopes Beatties buyer will ‘commit to Wolverhampton'
A business expert has said he hopes a buyer for Beatties can be found who will commit to keeping the iconic store in the city.
The flagship retailer, which has been a fixture of Wolverhampton for more than 140 years, is up for sale for just £3 million.
It has brought fresh uncertainty for the store which was only saved from closure by Mike Ashley’s Sports Direct less than a year ago when he led the takeover of House of Fraser.
The Beatties building has been owned by a Danish consortium since 2006.
Ninder Johal, a former president of the Black Country Chamber of Commerce, said he was keen for a buyer to come forward who “will see a future in retail”.
He said: “Clearly the landlords are looking to move the property on. I hope whoever takes the property on from the current owners will see a future in retail.
"If it does, hopefully they can come to some kind of negotiation with the owner of Beatties and Sports Direct on the best way forward for everyone – both parties and other stakeholders in the city.”
It is understood Wolverhampton Council will consider putting in a bid for Beatties if it does not look likely a buyer can be found to keep House of Fraser in the historic building.
The £3m price tag has already attracted strong interest.
Beatties sold for £47 million in 2006 and £69.4m a year earlier.
The decision to put the shop up for sale was revealed by the Express & Star as Sports Direct admitted House of Fraser may be in terminal decline and more store closures possible.
Councillor Wendy Thompson, opposition leader in Wolverhampton, said the fresh uncertainty surrounding Beatties was a worry.
“I hope there will be another buyer that comes along but if push comes to shove we don’t want anyone to come in and just leave it.
“I’m concerned for the staff because there is now some uncertainty.
“It’s a major street in Wolverhampton and it’s got a long history and very much part of the rise of Wolverhampton as a successful place.
“It is incredibly sad that it should be up for sale.
“Many people have happy memories of Beatties and want it to continue.”
The Express & Star kick-started a 'We’re Backing Beatties' campaign last year when the store was facing closure.
Thousands of people signed a petition to see it saved and famous faces also stepped out in support.
