Historic London retailer Arthur Beale to close store after 150 years
One of London’s oldest shops, Arthur Beale, is to shut its doors for a final time after it said it was unable to pay its rent following the impact of the pandemic.
The store on Shaftesbury Avenue in the West End, which sells yachting clothing, equipment and accessories, is to close after 150 years in the location. The company itself was formed as John Buckinghams around 500 years ago.
It is the latest company to say that its bricks and mortar business has been a casualty of the pandemic and will close on 24 June following a clearance sale.
The business said it would continue to operate online and hopes to have a London presence again “some time in the future”.
In a statement on social media, the company said: “The impact of Covid-19 means the company can no longer warrant paying the rents that a central London shop demands so we have no choice but to move on to pastures new.
“We were left in a very precarious state as a result of the pandemic but luckily for us we have found two enthusiastic new investors to help inject some much-needed capital back into the business.”
Central London retailers have been particularly impacted by the pandemic, with footfall significantly below pre-pandemic levels due to a sharp reduction in tourism and commuter numbers.
London footfall fell by 47.7% in the four weeks to 1 May, compared with the same period in 2019, according to the latest figures from the British Retail Consortium.