The final Beales department store in the UK is closing its doors at the end of May, citing rising budget taxes and wages as the primary reason. The closure of the Poole branch marks the end of a retail institution that has served communities for nearly one-and-a-half centuries. The news comes as the British Independent Retailers Association warns that other businesses may follow a similar path.
The last standing Beales department store in the UK is set to close its doors for good at the end of May. Located in the Dolphin Centre shopping mall in Poole, Dorset, the closure is attributed to rising budget taxes and wages. Tony Brown, the chief executive of Beales , stated, 'This, coupled with the risks and uncertainty of further tax increases in the coming years, have left us no other option.
We have been working with the Dolphin Centre, who have been supportive, along with our investors to ensure an orderly exit. Our team has been informed, as have our suppliers. We will ensure the exit is managed and no one will be left with a financial loss.' The news comes as the British Independent Retailers Association (Bira) warns that other businesses may follow a similar path. Jeff Moody, the commercial director of Bira, said, 'We are deeply saddened to learn of Beales’ closure. The rise in national insurance contributions and the higher minimum wage will impact other businesses.'Beales is just one of many recognizable high street stores that have faced closure in recent years. Iconic department store Jolly’s shut down in Bath after 200 years in December 2024. Other smaller department stores like Morleys Tooting announced its closure on social media in January 2025, marking the end of over 100 years on the high street. A London-based family-run food store, Partridges, also closed its Chelsea store on February 2nd. In 2024, well-known high street chains like Ted Baker, Homebase, and Carpetright closed due to insolvency proceedings, while others such as Boots and Shoe Zone reduced their store numbers as a cost-saving measure. This year, other retail giants like Homebase, WHSmith, Sainsbury’s, Iceland, Farmfoods, The Entertainer, Hollister, and New Look are also closing some of their stores. The closure of iconic stores highlights the challenges facing the retail sector, with increased taxes, rising wages, and the shift towards online shopping impacting traditional brick-and-mortar businesses. Even hospitality venues are struggling, with places like The Prince Charles Cinema in Leicester Square and Ye Olde Swiss Cottage facing closure. The Beales closure represents a significant loss for the British high street, marking the end of an institution that has served communities for nearly one-and-a-half centuries
RETAIL CLOSURE BEALES UK HIGH STREET TAXES WAGES ECONOMICIMPACT
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