Successful Chorley based newsagents sold to experienced operator

A popular newsagents operating in Chorley, Lancashire, has been sold to an experienced operator with the sale being advised by Kings Business.

The shop, located in the heart of the town, offers a wealth of goods such as food, drinks and magazines to its extensive and loyal client base. The store also provides additional services to clients, with the option of purchasing lottery tickets and using the store’s PayPoint.

Due to its prominent trading position, the store experiences great amount of footfall as an added benefit of its main road location. The store has successfully operated under current ownership for decades. The business also has an added advantage of a well-presented 2 bedroom flat located above the store, providing residential accommodation and storage of goods.

The owner decided to place the newsagents on the market in order to pursue other interests and instructed Kings Business in the sale. Our expert marketing campaign generated high levels of interest in the business, with 4 viewings and 3 offers.

The business was sold to an experienced operator who owns a number of additional retail businesses and has a long history within the retail industry. The buyer was looking for investment opportunities and was attracted to the business as it presented an opportunity to expanding their portfolio.

Upon completion of the sale, the vendor said: “My experience with Kings was excellent and Sophie responded very professionally to all my queries. It was the right time to sell due to my other commitments and I am pleased that Sophie dealt with the sale”.

The buyer said: “I am very pleased with Kings Business and I’m in the process of acquiring another business through them due to their excellent customer service and quick response time. I am satisfied with the deal, specifically how Sophie handled the sale”.

The buyer now intends to close the business whilst they do a full refurbishment of the property. They will also add alcohol and new chillers to the premises as the buyer has an alcohol license.

Business Negotiating Expert Sophie Wane said: “I am really pleased that we have sold this business. It was our pleasure to have found a perfect buyer who was in a position to move quickly. I wish both the seller and new owner all the best with their future endeavours”.