Beales fell into administration in January 2020 and closed 22 of its 23 UK branches in the same year
Beales fell into administration in January 2020 and closed 22 of its 23 UK branches in the same year,
A famous UK department store has closed its last shop. Beales fell into administration in January 2020 and closed 22 of its 23 UK branches in the same year, with the final branch now closing this week, with customers warned.
Chief executive Tony Brown confirmed that the branch, in Poole’s Dolphin Shopping Centre, would close at the end of May. He has also launched a tongue-in-cheek “Rachel Reeves closing-down sale” in a swipe at the Labour Party Chancellor.
The retailer added: “Thanks for the help, Chancellor.” He said the tax changes had made the business “unviable” and warned that if the Chancellor continues her “fiscal strategy”, many more firms would be forced to close – leaving British high streets packed with “cafes and vape shops”.
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“Ever since the punitive business taxes heaped on by the Chancellor, the two NI increases and the National Minimum wage increase and the reduction of the rates relief to 40% adding significantly to our costs, these punitive taxes have had the effect that the business has become unviable,” he said.
“This, coupled with the risks and uncertainty of further tax increases in the coming years, have left us no other option.” Mr Brown also accused Labour of being “manipulative” and carefully wording its manifesto to enable it to increase taxes on working people.
“I consider myself a working person, people who run businesses are working people,” he said. Commercial director Jeff Moody said: “We are deeply saddened to learn of Beales’ closure.
“This is not just the loss of another shop – it represents the end of a retail institution that has served communities for nearly one-and-a-half centuries. This closure starkly illustrates the devastating impact that recent tax increases are having on our retail sector.”
Founded in 1881, Beales operated 41 department stores in market towns across the UK at its peak, selling a range of furniture, fashion, toys and cosmetics.
In January 2020, Beales tumbled into administration.