Beales is in talks with two potential buyers as it fights for its survival.
Tony Brown, the department store chain’s chief executive and owner, said that it would either confirm a sale by the end of the week or look at alternatives.
Mike Ashley, the owner of Sports Direct, is widely rumoured to be one of the parties, having previously expressed an interest in the chain.
Brown said that the “lunacy” of business rates had compounded Beales’ difficulties, saying it paid three times more rates than rent in some locations.
