GST makes it right time to close says jeweller
The owner said the closure was down to an accumulation of things with GST among them.
GST makes it right time to close says jeweller
Owner Will van Zanten said GST was part of the accumulation of reasons why he was closing his doors
Machon's Jewellers is closing its doors after 166 years, with the incoming good and services tax (GST) among the reasons given by its owner.
Will van Zanten said the closure of the store at 47, The Pollet, St Peter Port, was due to an accumulation of factors, but the planned introduction of the consumption tax meant now was the right time.
A decision to introduce a 3% GST in 2029 was approved by Guernsey politicians earlier this month, which van Zanten said would create extra work and add compliance costs for smaller local shops.
"Retail trade is changing," he said. "I'm not so keen on the direction of change."
Will van Zanten said he did not feel the consumption based tax was the best thing for local retailers.
While van Zanten explained GST was not the only reason for closure, he said the future introduction of GST was the final reason to shut his store now.
He said it would be a "lot to take on" for his small business.
Van Zanten also felt retail culture was changing, and that it was moving in a direction he was not so keen on.
He said the personal touch of retail was an important part that was now disappearing because of online retailers and the growth of AI.
Even so, van Zanten believes there "is still a place for specialist shops on the highstreet".
But for him, now was "the right time" to shut up shop, especially as he "approaches retirement".