1949 Kellys lists The Lion Hotel (Trust Houses Ltd) at 55 High Street - still there in 1963.
I've attached a picture of the High Street circa 1860, from Richard Wildman's Bygone Bedford which does not really show the hotel well.
At no 23, 25 & 27 is Wells of Bedford, house furnishers - which later housed Harrison - Gibsons in 1963.
Regards John