THE OWNERS of Beatties, Wirral's only department store, are in "advanced" negotiations with House of Fraser over a possible takeover.
House of Fraser is under-stood to be considering buying out all 12 of the Wolver-hampton-based business's stores.
A statement issued to the London Stock Exchange said: "The boards of James Beattie plc ("Beatties") and House of Fraser plc ("House of Fraser") note the recent press speculation and can confirm that they are currently in discussions concerning House of Fraser making a possible offer for the entire issued and to be issued share capital of Beatties.
"Discussions are at an advanced stage but there is no certainty that any offer will be made. A further announce-ment will be made as and when appropriate."
Beatties was founded in 1877 in the form of a small drapers shop in Wolver-hampton called the Victoria Draper Supply Store
The founder, James Beattie, began the business with two assistants. By 1895, he had a staff of 40 and a turnover of £30,000. The company became a plc in 1954 and opened its Birkenhead store in 1963.
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