By HELEN COMPSON

Published at 09:53, Friday, 28 May 2010

A TAKEOVER deal which would secure the future of the Robb’s department store in Hexham could soon be clinched.

Robb’s saviour: Takeover talks are continuing.

Dorset-based store group Beales was this week involved in advanced negotiations with the Buccleuch Group, owner of the Robb’s premises, and MCR, administrators of the troubled Vergo Group, owner of the Robb’s business.

If the deal goes ahead, it is likely to safeguard most, if not all, of the 120 jobs at Robb’s and avoid the possibility of seeing Hexham’s retail landmark boarded up.

Beales chief executive Tony Brown is understood to have visited Robb’s and is keen to add it to his stable of 11 market town department stores.

He said: “We are continuing to pursue our interest. We are still in talks with both the landlord and the administrators.”

Retail analyst Graham Soult said Mr Brown’s track record suggested Beales would be good for the future of Robb’s and the future of Hexham as a shopping centre.

Since he took the helm at Beales in 2007, Mr Brown has revived the fortunes of the group and overseen a major overhaul of its stores which include one in Kendal.

Mr Soult said: “If Beales does take over Robb’s, it will really improve the store.”

Mr Brown cut his teeth on high street retail management while serving in Sir Philip Green’s shopping empire. Before leaving to join Beales he was retail director at Bhs.

Meanwhile, MCR announced there was some hope for the rest of the 19 stores in the Vergo Retail chain which went into administration earlier this month.

MCR partner Sarah Bell said: “Discussions are ongoing with a number of different parties wishing to acquire part or all of the business.

“This process is being run in parallel with a discount sale in order to generate sufficient cash to fund the business in the short term.

“(However), unless a purchaser can be found for the whole business, store closures during the coming weeks cannot be ruled out.”

Closing down sales have now been instituted in all 19 stores, including Robb’s.

Published by http://www.hexhamcourant.co.uk