One of the oldest UK department store chains is shutting its last shop, blaming Budget tax and wage increases.
Beales, which opened in Bournemouth in 1881, said trading at its Poole branch would end in May.
Read the full article on the This is Money website
NAM Implications:
- It could be said that the department store business model is way past sell-by…
- …only requiring a final blow from government to finish it off.
- (However, it could be said that the residual brand equity could survive online…)
