closing

Peacocks launches huge clearance sale ahead of closing much-loved shop

Fabulous’ Fashion Director, Tracey Lea Sayer shares her thoughts.

I WAS 10 when I first discovered the utter joy of high-street shopping for clothes with my mum and nan.

Going into town on Saturday became a family tradition – a girls’ day out we would look forward to all week.

My mum’s favourite shop was M&S, where she would gaze at jackets with big shoulder pads and floral sundresses, while my nan would make a beeline for John Lewis and their classic coats and elegant court shoes.

I was all over Tammy Girl – Etam’s little sister – and Chelsea Girl, which was later rebranded to high-street fave River Island.

I would spend hours in the changing rooms, watched keenly by my two cheerleaders, who gave the thumbs up – or thumbs down – on what I was trying on.

Frilly ra-ra skirts, duster coats, polka dot leggings, puff balls, boob tubes… I tried them all, often making my nan howl with laughter.

Fashion wasn’t so fast back in the 1980s and every item was cherished and worn until it fell apart – literally – at the seams.

At 18, I went to art college and my tastes became more refined.

Extra cash from a part-time job in a bar meant I could move on to slightly more expensive stores, like Warehouse, Miss Selfridge and the mecca that was Topshop.

I knew at this point I wanted to work in fashion because the high street had totally seduced me.

One day, I wrote an article for a competition in a glossy mag about my love of retail therapy and my favourite LBD – and I won!

That led me to where I am today – Fashion Director of Fabulous.

It’s not just me that loves the high street – big-name designers are fans, too. When Cool Britannia hit in the ’90s, they all turned up in one big store.

Designers at Debenhams was a stroke of genius by Debenhams CEO Belinda Earl, designer Ben de Lisi and fashion director Spencer Hawken, who introduced diffusion ranges from John Rocha, Matthew Williamson and Betty Jackson, to name a few.

This meant we could all afford a bit of luxury and wear a well-known designer’s signature style.

Years later, I hosted a night with Debenhams and Fabulous for 250 readers, who were in awe meeting all the designers. It was a real career highlight for me.

In 2004, H&M started rolling out their international designer collabs.

Karl Lagerfeld was first, followed by Roberto Cavalli, Marni, Stella McCartney, Maison Martin Margiela, Sonia Rykiel, Comme des Garçons, Balmain, Versace and many, many more. I could barely contain myself!

Then in 2007, Kate Moss launched her first collection with Topshop, with thousands queuing along London’s Oxford Street.

I remember sitting behind Ms Moss and Topshop boss Philip Green at a London Fashion Week Topshop Unique catwalk show.

I had my three-year-old daughter, Frankie, in tow and we both made the news the next day after we were papped behind Kate, my supermodel girl crush.

At the time, the high street was on fire. Who needed designer buys when Mango stocked tin foil trousers just like the designer Isabel Marant ones and you could buy a bit of Barbara Hulanicki’s legendary brand Biba from Topshop?

High street stores even started to storm London Fashion week.

Although Topshop Unique had shown collections since 2001, in 2013 River Island showed its first collection in collaboration with global superstar Rihanna, who was flown in by a friend of mine on a private jet. KER-CHING!

A whole new generation of high profile high street collabs followed.

Beyoncé created Ivy Park with Topshop’s Philip Green and I even flew to LA for Fabulous to shoot the Kardashian sisters in their bodycon “Kollection” for Dorothy Perkins.

I am pleased to say they were the absolute dream cover stars.

Fast forward to 2024 and while the high street doesn’t look exactly like it did pre-Covid, it has made a gallant comeback.

Stores like M&S, Reserved and Zara, and designer collabs like Victoria Beckham X Mango and Rochelle Humes for Next are giving me all the feels.

The supermarkets have really come into their own, too, smashing it with gorgeous collections that look expensive, but at prices that still allow us to afford the weekly shop.

The last 30 years of high street fashion have been one big adventure for me. Bring on the next 30!

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Transfer news LIVE: Luka Modric to JOIN AC Milan, Liverpool in Kerkez talks, Man City closing in on Ait-Nouri deal

THE thrills and spills of the summer transfer window are finally here – with some huge deals already in the pipeline.

Ballon d’Or winner and Real Madrid legend Luka Modric is set to leave Los Blancos, and will join AC Milan upon the expiration of his current contract.

Elsewhere, Liverpool are entering a final round of talks for Bournemouth left-back Milos Kerkez, with a deal expected to be struck in the coming days.

In other news, Man City are advancing in talks for Wolves left-back Rayan Ait-Nouri.

BEST ONLINE CASINOS – TOP SITES IN THE UK

Follow ALL the latest news, moves and completed deals with our live blog below…

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NYC jury to decide Weinstein’s fate following closing arguments

June 3 (UPI) — Closing arguments got underway Tuesday after former movie mogul Harvey Weinstein‘s legal defense team rested in the retrial of his vacated rape conviction in New York.

The retrial began six weeks ago with Weinstein, 73, charged with rape and sex crimes against three women accusers, who accused him of attacking them while in Manhattan between 2006 and 2013.

He had been convicted of rape and criminal sexual assault by a New York jury five years ago and was sentenced to 23 years in prison.

An appellate court overturned the conviction a year ago with a 4-3 ruling due to a trial judge improperly allowing “irrelevant” and “prejudicial” testimony and other evidence.

Manhattan District Attorney Alvin Bragg said his office would refile charges against Weinstein.

The current trial accuses Weinstein of two counts of first-degree criminal sexual act and one count of third-degree rape.

A jury of seven women and two men likely will begin deliberations by the end of the day on Tuesday.

Prosecutors have argued Weinstein used his position in Hollywood to control the three alleged victims, who were trying to find work in television and film.

His accusers are Miriam Haley, Jessica Mann and Kaja Sokola, who testified against Weinstein and said they were young and seeking careers in Hollywood with Weinstein’s help.

Prosecutors brought 24 witnesses before the court to testify against Weinstein, whose legal team has argued his accusers engaged in consensual acts.

The witnesses included former assistants to Weinstein; relatives and friends of his accusers; and hotel workers at locations where he is accused of assaulting the alleged victims.

None of the witnesses who triggered the appellate court’s ruling overturning Weinstein’s conviction testified in the current trial.

Weinstein also did not testify in the current or prior trial. He has pleaded not guilty to all charges.

If found guilty on any of the charges, Weinstein likely will spend the rest of his life in prison.

Even if found innocent, Weinstein would remain imprisoned for his 2022 conviction on similar charges in a separate case in California. His legal team has appealed that conviction.

Weinstein’s downfall significantly contributed to the rise of the #MeToo movement in 2017 after The New York Times and the New York Daily News reported details of the accusations against him.

Others formerly accused of sexual misconduct include actor Kevin Spacey, comedian Louis C.K., and former New York Gov. Andrew Cuomo.

Rapper and music mogul Sean “Diddy” Combs is being tried in federal court in Manhattan on similar charges.

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Clinton Hones Outsider Image in Closing Days

In the last lingering days of the presidential campaign, Arkansas Gov. Bill Clinton is again presenting himself in the mold in which he began the race–the outsider fighting the Washington Establishment and, even, his own party.

The whirlwind of charges and countercharges that have enveloped Clinton’s opponents, President Bush and independent Ross Perot, have left the Democratic presidential nominee alone in the more placid eye of the storm, better able to frame his own message without interference in the campaign’s closing days than he might have imagined.

His self-styled image, the one carefully crafted throughout his political career, is of a so-called “new Democrat,” a description that Clinton on Tuesday continually contrasted with what he described as a more stagnant Republican Party.

At a sun-splattered midday gathering in Tampa, Clinton defined the distinctions sharply.

“I think there is a tired old Republican Party that’s run out of energy, ideas, direction and compassion and they ought to be run out of town,” said Clinton. “I believe there is a strong new Democratic Party that has attracted the support of Democrats, Republicans, independents, former Perot supporters from coast-to-coast because we offer a new direction for America.”

Midway through Clinton’s lines, the audience took up the chant that echoed at each of his rallies Tuesday: “One more week!”

The Democrat, appearing both energized and relieved, assented. “One more week,” he said.

In a series of rallies that took him from Georgia to Florida and on to Louisiana–three areas rich in electoral votes where a traditional Democratic message has not sold well in recent presidential races–Clinton hewed to a conservative, sober tone as he sought to redefine his candidacy and his party.

“I have tried to build a new Democratic Party that believes in growth in the private sector, that believes in not bigger government but more efficient government, that believes in a partnership between government and business and labor and education,” he said in Augusta, Ga., where a raucous crowd gathered in an amphitheater alongside the Savannah River.

The much sought-after mantle of outsider was Clinton’s property early in the presidential race, when his only opponent was a sitting President. But Perot, in both incarnations of his campaign, has continually threatened to rip it from Clinton’s grasp.

But the brouhaha between Bush and Perot over alleged “dirty tricks” has raised new questions about the Texas businessman’s temperament and freed Clinton to set off on his own course.

That relative freedom is a luxury not often afforded candidates in the last days of a hard-fought race. The advantage could vanish any moment, and as insurance Clinton has kept up his caustic characterizations of Bush.

The Democrat’s outsider approach is aimed in two directions–at the Washington Establishment, a volley meant for Bush, and at the traditional notion of Democrats, a thrust meant to curry favor with voters who might otherwise be attracted to Perot.

Clinton drew repeatedly on recent news stories that have characterized the Administration’s varied law enforcement agencies as being at each other’s throats. In particular, he cited the feud between the CIA and the Justice Department over which is to blame for failing to present accurate information in a federal court case being heard in Atlanta that deals with questionable loans to Iraq.

“This is an Administration divided against itself, with no firm convictions, in total disarray,” Clinton said in Tampa.

In pressing his case in Florida–home of 25 electoral votes–Clinton noted that Bush won the state in 1988 with more than 60% of the vote.

Since then, Clinton added, “unemployment has gone up, airline companies based in Florida have been bankrupted, the elderly people have seen no attempt to control health care costs. . . . The economy of Florida is in a shambles.”

“If we carry Florida, it is over for trickle-down economics,” he said.

Clinton’s notion that the Democratic Party has changed its stripes was buttressed Tuesday by his own words and those of a Democratic senator who joined him along the way.

In Georgia, Sen. Sam Nunn, the well-respected expert on defense, effectively sanctioned Clinton’s commitment to certain conservative principles.

“Gov. Bill Clinton believes in a strong Army, believes in a strong nuclear deterrent . . . and he believes in a strong America,” Nunn said.

Clinton himself advocated “a defense policy that leaves us with the strongest defense in the world but one adequately designed to meet the challenges of the post-Cold War era.” He offered no specifics.

He also brought up what he called “another example of the difference in the Democratic Party I want to lead and where we are now.”

“I do not want to regulate business to death,” he said. “I am a job creator, not a job destroyer.”

In Tampa, Clinton renewed another set of promises meant to underscore his differences with past Democrats: He pledged to cut the size of the White House staff by 25% and invoke strong strictures on lobbying.

While he did not shy away from scathing criticisms of Bush, Clinton took time to cast his proposals within a broadly optimistic appeal to voters. He insisted that despite his well-demonstrated ability to deliver stinging political punches, he is at heart a political pacifist.

“In the last week, I hope that at least in my campaign we can lift the sights of the American people and focus folks on the future, on what is going to happen the day after the election,” he told several thousand people at the riverfront in Augusta, a site he had traveled to by boat from downstream on the Savannah River.

“After the election, there’ll be no charges to answer, nobody to make fun of, only the American people, their problems and their promise out there, and the issue is what are we gonna do to move our country forward and lift our country up? That is what I got in this race to talk about.”

The candidate is campaigning with as much ease as he has in recent months; he joked openly at the rally in Augusta, where a man yelling “draft dodger” at him was escorted from the amphitheater by police.

“Just relax,” said Clinton, talking as much to himself as to his audience. “You only have to put up with him for six more days.”

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More than 13million Brits still rely on bank branches despite a whopping 6,000 of them closing over last decade

MILLIONS of bank customers face being left stranded after a damning report revealed 6,000 branch closures over the past decade.

A whopping 13million customers used bank branches last year, according to the Financial Conduct Authority (FCA).

Faded "BANK" sign on a weathered building.

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More than 6,000 bank branches have shut over the past decadeCredit: PA

The data shows that most users remain “reliant on bank branches for essential services,” despite the move toward online banking.

The FCA report revealed that an eye-watering 9.7million people visited a specific site at least once a month.

Experts fear that the trend of branch closures will leave customers stranded with around 3.3million account holders never banked online.

Around 63 per cent of those are over the age of 85, which raises further concern, according to the FCA.

The report also found that people from low-income households – as well as those with cancer, multiple sclerosis, or HIV — were less likely to engage with digital banking.

Caroline Abrahams, charity director at Age UK, said: “The disappearance of face-to-face banking risks cutting a significant minority of the older population out of an essential service, making it difficult if not impossible for them to maintain their independence.”

The main reasons people avoided online banking were concerns about security and a preference for speaking to someone face-to-face.

A staggering 21 per cent of account holders surveyed said their regular bank branch had closed.

Consumer group, Which?, showed that more than 6,000 branches have shut in the past decade.

Jenny Ross, money editor at Which? said: “As the UK’s bank branch network continues to be cut to the bone, more people are finding it difficult to access banking services.”

Major high street bank axing key service

 Former pensions minister Ros Altmann added: ‘Millions of British citizens cannot and do not use online or mobile banking, and indeed don’t even have a smartphone.

Despite the rising bank closures, Nationwide has committed to keeping all of its branches open until 2028.

The major bank has seen the number of customers rise by 4 per cent, which appears to be partly driven by other bank closures.

Which bank branches are closing in June?

Halifax:

  • Bitterne: 400/402 Bitterne Road SO18 5RS – June 9
  • Bournemouth: 335/337 Wimborne Road BH9 2EA – June 4
  • Felixstowe: 85 Hamilton Road IP11 7BQ – June 2
  • Fleetwood: 4 Poulton Street FY7 6LR – June 22
  • Gainsborough: 32 Lord Street DN21 2DQ – June 2
  • Launceston: 1 Southgate Street PL15 9DP – June 3
  • Leek: 16 Derby Street ST13 5AB – June 4
  • Letchworth: 1 Commerce Way SG6 3DN – June 3
  • Littlehampton: 68 High Street BN17 5EA – June 23
  • London (North West): 469 Kingsbury Road NW9 9ES – June 2

Bank of Scotland:

  • Bathgate: 50 Hopetoun Street EH48 4EU – June 30
  • Cowdenbeath: 349/351 High Street KY4 9QJ – June 24
  • Linlithgow: Regent Centre Blackness Road EH49 7HU – June 23

Lloyds:

  • Alcester: Stratford Road B49 5AX – June 25
  • Ashbourne: Compton DE6 1DY – June 24
  • Dorchester: 1-2 High West Street DT1 1UG – June 19
  • Launceston: 13 Broad Street PL15 8AG – June 3
  • Liverpool: 188-190 Breck Road L5 6PX – June 4

Over the rest of the year, another 40 branches are closing.

These include locations in BristolLondon, Bolton, Edinburgh and Coventry.

Here is the full list…

Halifax:

Barrow-in-Furness: 133-135 Dalton Road LA14 1HZ – September 10
Bexleyheath: 131 Broadway DA6 7HF – October 23
Blackpool: 283/287 Lytham Road FY4 1DP – October 29
Bolton: 23/27 Knowsley Street BL1 2DG – November 20
Brentwood: 12 High Street CM14 4AE – September 10
Bristol: 15 Kings Chase Shopping Centre BS15 8LP – October 8
Carmarthen: 121/122 Lammas Street SA31 3AE – October 6
Castleford: 68 Carlton Street WF10 1DB – September 8
Cirencester: 10/12 Cricklade Street GL7 1JH – September 25
Crewe: The Market Centre CW1 2HU – October 14
Derby: 39 East Street DE1 2BL – October 23
Epsom: 51-52 The Ashley Centre KT18 5DB – September 15
Erdington: 221 High Street B23 6SS – September 24
Folkestone: 70-72 Sandgate Road CT20 2AA – October 9
Hayes: 45/47 Station Road UB3 4HH – October 6
Hexham: 20 Priestpopple NE46 1XH – November 5
Hove: 86/87 George Street BN3 3YE – October 20
London (South East): 165/169 Eltham High Street SE9 1TT – October 29
London (South East): 9-13 Powis Street SE18 6HZ – October 1
London (South West): 6 St Johns Hill SW11 1RU – September 23

Bank of Scotland:

Edinburgh: 206 St John’s Road EH12 8SH – October 29

Lloyds:

Biggleswade: 35 High Street SG18 0JD – November 5
Blandford: 6 Market Place DT11 7EE – November 10
Bristol: 16 Highridge Road BS13 8HA – November 6
Bury: 45 The Rock BL9 0JP – October 21
Chard: 27 Fore Street TA20 1PS – November 11
Coventry: 531 Foleshill Road CV6 5JN – November 4
Dunstable: 12 High Street North LU6 1JY – November 4
East Grinstead: 1/3 London Road RH19 1AH – November 12
Fakenham: 27 Norwich Street NR21 9AH – July 1
Falmouth: 11-12 Killigrew Street TR11 3RA – November 13
Feltham: 40 The Centre TW13 4AX – November 4
Ferndown: 84 Victoria Road BH22 9JB – November 17
Hexham: Priestpopple NE46 1PA – November 5
Kidderminster: 1 Vicar Street DY10 1DE – October 16
Leeds: 1 Cross Gates Centre LS15 8ET – August 20
Leeds: 52 Town Street LS12 3AE – September 8
Leominster: 9 Corn Square HR6 8LT – November 18
London (East): 180 – 182 High Street E17 7JH – October 22
London (South West): 12 Mitcham Road SW17 9ND – October 8
Loughton: 11 The Broadway IG10 3SW – November 12
Manchester: 64 Old Church Street M40 2JF – November 5

Since June 2022, Lloyds Banking Group has shut 537 bank branches across its three brands.

It has previously said all workers at the affected branches will be offered jobs elsewhere in the company.

UK banks and building societies have closed about 6,293 branches since January 2015, according to research by Which?.

This works out as almost two branches shutting every day for the past decade.

Barclays is the individual bank that has reduced its network the most, with 1,227 branch closures.

What to do if your local bank is set to close

If your nearest branch is closing, you should still be able to access banking services without going to another town.

For example you could check if there is a Post Office near you.

Here you’ll be able to do basic banking tasks, although you won’t be able to open a new bank account or take out personal loans or mortgages.

You can find your nearest Post Office branch by visiting postoffice.co.uk/branch-finder.

Many banks also offer a mobile banking service where they bring a bus to your area that offers services you can usually get at a physical branch.

Other banks use buildings such as village halls or libraries to offer mobile banking services.

You may want to contact your bank to see what mobile services they have available.

Another option is to check if there’s a super ATM near you.

These have been rolled out across the UK where branch closures have left residents unable to access essential banking services.

These ATMs will allow customers to withdraw funds, access their balance, change PIN numbers and deposit cash.

Banking hubs are also being opened across the country with 250 set to be available by the end of 2025.

What services do banking hubs offer?

BANKING hubs offer a range of services to bridge the gap left by the closure of local branches.

Operated by the Post Office, these hubs allow customers to perform routine transactions such as deposits, withdrawals, and balance enquiries.

Each hub features private booths where customers can discuss more complex banking matters with staff from their respective banks.

Staff from different banks are available on a rotational basis, ensuring that customers have access to a wide range of banking services throughout the week.

Additionally, customers can receive advice and support on various financial products and services, including loans, mortgages, and savings accounts. 

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Much-loved independent fashion retailer launches closing down sale ahead of shutting down in weeks

A BELOVED clothing store that has been in business for nearly 50 years has launched a massive sale ahead of its closure.

Ginger, in Norwich, will shut for good on June 7 after the owners were forced to make an “incredibly difficult decision”.

Exterior view of Ginger clothing shop.

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The family-owned business is one of Norwich’s oldestCredit: Facebook

The shop was founded by David and Rodger Kingsley in 1978 following the success of their sister company Jonathan Trumbull in 1971.

Beckie Kingsley broke the sad news on social media that her family’s shop was soon to be no more.

The store manager blamed the current economic climate and the aftermath of Covid-19 for the business’s hardship.

She said: “It’s with truly heavy hearts that, after 46 unforgettable years, we have made the incredibly difficult decision to close the doors at our beautiful, beloved and historic Timber Hill home.

“We’ve weathered many storms over the decades, but there’s been ongoing challenges of today’s financial climate – coupled with the lasting impact and huge shifts within the retail landscape since Covid.

“This led us to ask – does it still work for us? After deep reflection, the answer, sadly, is no.

“We’ve had the privilege of watching generations grow, celebrating precious life milestones, sharing joys and deepest sorrows.

“Being part of people’s stories has been beyond a privilege – more than some may ever know.

“They’ve always been more than just customers – they’ve become wonderful friends.”

Ginger is one of the city’s oldest businesses and loyal customers rushed to share their praise.

“You will be missed! Sending hugs,” one wrote.

Another commented with a sad face emoji.

Dozens of shops are set to close across the country before the end of the month in the latest blow to UK high streets.

One of these include Smiggle, known for its colourful, quirky pens, lunchboxes and school bags, which revealed it is shutting up shop at the Darwin Centre in Shrewsbury.

Meanwhile, family business B.D Price, a beloved toy and bike store in Dudley, West Midlands, announced its closure after 160 years.

The 84-year-old owner blamed the cost of living crisis for a drop in sales and the costs of running the business skyrocketing.

Rising living costs leaving shoppers with less cash to spend and an increase in online shopping have battered retailers in recent years.

In some cases, landlords are either unwilling or unable to invest in keeping shops open, further speeding up the closures.

Smiggle isn’t the only stationary shop shutting its doors, more WHSmiths stores are set to close this month.

Sports Direct axed its Newmarket Road store in Cambridge on April 18 while Red Menswear in Chatham in Medway, Kentshut for the final time on March 29 after selling men’s clothing since 1999.

RETAIL PAIN IN 2025

The British Retail Consortium has predicted that the Treasury’s hike to employer NICs will cost the retail sector £2.3billion.

Research by the British Chambers of Commerce shows that more than half of companies plan to raise prices by early April.

A survey of more than 4,800 firms found that 55% expect prices to increase in the next three months, up from 39% in a similar poll conducted in the latter half of 2024.

Three-quarters of companies cited the cost of employing people as their primary financial pressure.

The Centre for Retail Research (CRR) has also warned that around 17,350 retail sites are expected to shut down this year.

It comes on the back of a tough 2024 when 13,000 shops closed their doors for good, already a 28% increase on the previous year.

Professor Joshua Bamfield, director of the CRR said: “The results for 2024 show that although the outcomes for store closures overall were not as poor as in either 2020 or 2022, they are still disconcerting, with worse set to come in 2025.”

Professor Bamfield has also warned of a bleak outlook for 2025, predicting that as many as 202,000 jobs could be lost in the sector.

“By increasing both the costs of running stores and the costs on each consumer’s household it is highly likely that we will see retail job losses eclipse the height of the pandemic in 2020.”

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Iconic department chain to shut final store this MONTH & vanish forever as it launches ‘Rachel Reeves closing down sale’

A BELOVED department chain is preparing to shut its final store this month as it launches a “Rachel Reeves closing down sale.”

The famous shop will be shuttering forever after serving customers on the high street for 140 years.

Beales Department Stores sign on a building.

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The iconic department store Beales will be shutting is last storeCredit: Getty
Beales Department Store closing down sale; up to 80% off selected lines.

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Beales in Poole’s Dolphin Centre is offering 80 per cent off its stockCredit: BNPS
Rachel Reeves' closing down sale: up to 80% off selected lines. Everything must go!

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The site has named the offer a ‘Rachel Reeves’ closing down sale’Credit: FACEBOOK – BEALES POOLE

Beales in the Dolphin Centre in Poole will close on May 31 and is slashing the price of stock by 80 per cent in the meantime.

The historic chain was founded in Bournemouth in 1881 and offers a range of iconic products, including clothing, home goods, and more.

This particular Poole Beales branch was the last one standing when the company collapsed into administration in January 2020, leading to the closure of its 22 other stores.

Despite the stores resilience, the brutal budget introduced last year saw the hike of National Insurance which has forced countless shops to close.

To mark the occasions, the store’s Facebook page is advertising a “Rachel Reeves‘ Closing Down Sale,” featuring discounts of up to 80% and a caption cheekily thanking the Chancellor for “the help.”

It wrote in the caption: “Our closing sale is almost over (cheers for the help, Chancellor) – and we’ve just dropped hundreds of lines to 80% OFF or more!

“Grab a bargain before we vanish into the budget black hole. #FinalSale #80Off #LastChance #WhenItsGoneItsGone.”

Despite weathering the storm for the past five years, it seems the Chancellor’s latest Budget changes have delivered the final blow to the struggling chain.

Beales chief executive Tony Brown previously told The Telegraph the business had become “unviable” following the Chancellor’s announcement of increases to the minimum wage and national insurance contributions in the October Budget.

Announcing the closure, Mr Brown said: “This, combined with the risks and uncertainty of further tax increases in the coming years, has left us with no alternative.

Beloved pizza chain to close down for good in just weeks after 54 years

“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.”

Shoppers were left heartbroken by the news of the store’s impending closure, with one commenting on the latest post: “I’ve loved shopping here over the years.”

Another wrote: “Sadly this is happening to many shops.”

Like many businesses, Beales now faces higher employer national insurance contributions, which have risen from 13.8% to 15%.

Additionally, the threshold at which these contributions must be paid has been lowered from £9,100 to £5,000.

These changes to the tax system were confirmed by the Chancellor in the Autumn Budget last October and came into effect on 1 April.

At the same time, the national minimum wage saw a notable increase, rising to £12.21 per hour. For workers aged 18-20, the minimum wage increased by £1.40 to £10 per hour.

Founded in 1881, Beales once boasted a proud portfolio of 41 department stores in market towns across the UK, offering everything from furniture and fashion to toys and cosmetics.

The retailer’s decline has been gradual but unrelenting.

Its Southport store was shuttered last September, just three years after the site had reopened.

With the closure of the Poole branch, the last remaining link to the Beales name, a once-iconic fixture of the British high street, will vanish forever.

DEATH OF THE HIGH STREET

Retailers have been feeling the squeeze since the pandemic, while shoppers are cutting back on spending due to the soaring cost of living crisis.

High energy costs and a move to shopping online after the pandemic are also taking a toll, and many high street shops have struggled to keep going.

However, additional costs have added further pain to an already struggling sector.

The British Retail Consortium has predicted that the Treasury’s hike to employer NICs from April will cost the retail sector £2.3billion.

At the same time, the minimum wage will rise to £12.21 an hour from April, and the minimum wage for people aged 18-20 will rise to £10 an hour, an increase of £1.40.

Experts have said small high street shops could face a particularly challenging 2025 because of Budget tax and wage changes.

Professor Bamfield has warned of a bleak outlook for 2025, predicting that as many as 202,000 jobs could be lost in the sector.

“By increasing both the costs of running stores and the costs on each consumer’s household it is highly likely that we will see retail job losses eclipse the height of the pandemic in 2020.”

Why are retailers closing shops?

EMPTY shops have become an eyesore on many British high streets and are often symbolic of a town centre’s decline.

The Sun’s business editor Ashley Armstrong explains why so many retailers are shutting their doors.

In many cases, retailers are shutting stores because they are no longer the money-makers they once were because of the rise of online shopping.

Falling store sales and rising staff costs have made it even more expensive for shops to stay open.

The British Retail Consortium has predicted that the Treasury’s hike to employer NICs from April 2025, will cost the retail sector £2.3billion.

At the same time, the minimum wage will rise to £12.21 an hour from April, and the minimum wage for people aged 18-20 will rise to £10 an hour, an increase of £1.40.

In some cases, retailers are shutting a store and reopening a new shop at the other end of a high street to reflect how a town has changed.

The problem is that when a big shop closes, footfall falls across the local high street, which puts more shops at risk of closing.

Retail parks are increasingly popular with shoppers, who want to be able to get easy, free parking at a time when local councils have hiked parking charges in towns.

Many retailers including Next and Marks & Spencer have been shutting stores on the high street and taking bigger stores in better-performing retail parks instead.

In some cases, stores have been shut when a retailer goes bust, as in the case of Carpetright, Debenhams, Dorothy Perkins, Paperchase, Ted Baker, The Body Shop, Topshop and Wilko to name a few.

What’s increasingly common is when a chain goes bust a rival retailer or private equity firm snaps up the intellectual property rights so they can own the brand and sell it online.

They may go on to open a handful of stores if there is customer demand, but there are rarely ever as many stores or in the same places.

The Centre for Retail Research (CRR) has warned that around 17,350 retail sites are expected to shut down this year.

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