Pearsons bought out by Morleys Store Group
The Morleys Store Group has acquired the two Pearsons department stores.
The family behind Pearsons reportedly sold their shares at the end of last week, when staff were informed.
Pearsons, with stores in Enfield and Bishops Stortford, was founded in
1891 by Arthur and Stanley Pearson. The Morleys Store Group started six
years later and will add the Pearsons stores to its existing portfolio
of six stores which include Elys of Wimbledon and Bodgers of Ilford.
The Dutch-owned Morleys Store Group has stated that the Pearsons stores will retain their original names and character.
Carole
Henderson, on behalf of the Pearson family, said: "The two companies
were a perfect fit and the acquisition would guarantee the development
of the business as well as giving security and opportunity for all those
that work within it."
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