Beales to Close Final Store After 144 Years, Citing Rising Costs

The historic department store chain blames tax increases and reduced business rates relief for its decision to shut its last location in Poole this May.

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.