Overview

• Beales, founded in 1881, will close its last remaining store in Poole, Dorset, marking the end of its 144-year presence on the British high street.
• The closure is attributed to increased employer National Insurance contributions, a higher minimum wage, and reduced business rates relief introduced in Rachel Reeves’s recent budget.
• Beales CEO Tony Brown stated that the additional costs made the business unviable, despite efforts to stabilize operations since its 2020 revival following administration.
• The British Independent Retailers Association warns that these tax changes could lead to further closures across the retail sector, with many businesses struggling to absorb rising costs.
• Beales plans to continue trading online, reflecting broader challenges facing department stores, including competition from e-commerce and declining high street footfall.