Beales Closes Last Store, Launches 'Rachel Reeves Closing Down Sale'

Beales, a 144-year-old British department store, is closing its last remaining location in Poole, Dorset, and has launched a tongue-in-cheek 'Rachel Reeves closing down sale' featuring discounts of up to 80%. Chief executive Tony Brown blames the closure on tax increases and policy changes implemented by Chancellor Rachel Reeves, including rises in employer National Insurance, the national minimum wage, and reductions in business rates relief. Brown claims these 'punitive' changes have increased the company's costs by around £200,000, making the business unviable and forcing both staff and suppliers to be informed of the shutdown. The store's closure is marked by posters and social media posts criticizing Reeves and warning that continued fiscal policies could lead to more high street closures, leaving towns dominated by cafes and vape shops. Brown and other critics argue that the government's approach is counterintuitive to business growth and has created excessive uncertainty for investors and small businesses. The Beales case is being used to highlight broader concerns within the UK retail sector about the impact of recent tax and wage policy shifts.