A TRADITIONAL department store left to its staff by its late owner has been sold -with a safeguard for its future.
The sale of Philip Hall Limited, in Fishergate, Ripon, has meant a windfall for qualifying members of the 15 staff.
The Ripon store was founded by Philip Hall, a Quaker from Thirsk, who said the store must continue trading under his name if it was sold.
The sale of the department store has meant its sole director, Terence Atkinson, can retire but the store will continue trading.
Mr Atkinson announced the sale on behalf of the directors, trustees and staff, after what he described as protracted negotiations, saying there had been an "equitable and very satisfactory agreement".
The deal to buy the store was sealed only days before the tenth anniversary of Mr Hall's death.
Mr Atkinson said the sale had come at an exciting time for Ripon, with a new multi-million pound supermarket, shopping and car parking development going ahead near the department store site.
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