A Companies House filing shows the Fife business passed a special resolution on 5 March confirming that the company could not continue trading by reason of its liabilities and should be wound up voluntarily. The appointment of the liquidators was ratified at the same meeting.

Store owner Tracey Grayson had previously pointed to rising costs as the driving force behind the closure, stating that the government was making it “impossible” to trade. She cited increases in National Insurance contributions, wages, business rates and product prices, alongside a steady decline in footfall over the preceding six months, The Herald reports.

Gracey Avenue had traded for 20 years, with some members of staff having worked there for at least 18 of those. Ms Grayson revealed she had not drawn a wage during her five years with the business in an effort to keep it solvent.

The company’s most recent accounts recorded net assets of £15,915 in 2024, down from £19,510 the previous year.

Ms Grayson called on the Scottish Government to provide relief to small businesses through action on business rates, and expressed concern for loyal customers who had already been asking where they would shop in future. “This shop has been here for 20 years,” she said. “It’s going to be a big loss to Dunfermline”.