The retailer will shut its store in the Dolphin Centre in Poole on May 31 and is now offering up to 80% as part of a closing down sale
Beales is closing down its last remaining store at the end of this month after more than 140 years on the high street.
The retailer will shut its store in the Dolphin Centre in Poole on May 31 and is now offering up to 80% as part of a closing down sale. Beales was founded in Bournemouth in 1881 but collapsed into administration in 2020.
At the time, the retailer closed all 23 of its shops – but it went on to reopen three branches in Poole, Peterborough and Southport. The Peterborough site closed in early 2023, while the Southport store was closed down last September.
Beales has been sharing its closing down sale on Facebook, with shoppers reacting to the news of its closure. One person said: “Will be sad to see you go, I like Beales.”
A second person posted: “Such a shame. I’ve never liked online shopping and love department stores. Always enjoyed a mooch around Beales.” A third said: “Very sad to see you go.”
Beales chief executive Tony Brown said the closure was down to the rise in employer National Insurance contributions and higher minimum wage, both of which are set to come into force in April.
He previously told the Telegraph: “This, coupled with the risk 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 rate of National Insurance paid by firms will rise from 13.8% to 15% from April 2025. The earnings threshold for when employers start paying National Insurance will also be lowered from £9,100 per year to £5,000.
This comes on top of growing use of online shopping, stretched finances following the cost of living crisis, meaning people have less money to spend, and more employees working from home, which means less footfall in high streets.
At the same time, minimum wage will rise by 6.7%. For someone aged 21 and over, minimum wage will rise from £11.44 an hour to £12.21 an hour, while those aged 18 to 20 will see their rate rise from £8.60 an hour to £10 an hour.
If you’re under 18 or you’re an apprentice, minimum wage is rising from £6.40 an hour to £7.55 an hour.
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