AN independent Aberystwyth shop has closed after three years – with the owner saying that increased business rates and the levy town centre businesses have to pay into the controversial BID scheme making it not feasible to continue.

The Bearded Man, which was based in Chalybeate Street, closed on 13 July. Owner Alister Dryburgh said he felt let down because small independent shops are facing huge bills when large out-of-town stores are paying significantly less in rates.

Alister said the decision not to renew the lease on the Chalybeate Street shop was a difficult decision, but the shop had already been paying bills of almost £2,000 a month and he was facing an increase due to the business rates rise and the levy for the BID scheme.

He warned that independent shops in Chalybeate Street would be facing a difficult period.

Alister said: “The increase in rates in half of Chalybeate Street has made the street more expensive than Terrace Road and since M&S has opened we have seen a reduction in footfall. A lot of local independent traders are in Chalybeate Street and the rate increase is going to add a lot more pressure on to them.

“It would be better if rates were based on a company’s profits as Chalybeate Street is paying nearly four times the amount per square metre that the larger chain stores are, but we do not make anywhere near the profit that they make, which doesn’t make it fair.”

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