Beales, a historic British department store, is shutting down its last outlet in Poole, Dorset, citing the Chancellor's tax increases as the primary reason for its demise. CEO Tony Brown emphasized that rising National Insurance contributions, minimum wage hikes, and reduced tax relief have collectively harmed the business's viability. The store's closing sale, branded with a sharp tagline highlighting the financial blame placed on the government, underscores the broader economic challenges faced by retailers in the current climate.
Beales is closing its store in Poole, Dorset at the end of the month, attributing its business failure to the Chancellor's tax hikes and financial burdens.
Tony Brown, Beales' CEO, criticized the tax increases, stating that elevated costs from National Insurance and wage adjustments left their family-run business unviable.
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