A bakery chain part-owned by comedian Romesh Ranganathan has become the latest victim of high Government taxes.

Coughlans Bakery, a chain of 31 shops across Kent, Surrey, West Sussex and south London, said it has collapsed into voluntary liquidation.

The business, which Ranganathan became a co-owner of in 2024, ceased trading yesterday after trading since 1937.

Managing director Sean Coughlan said that higher business rates, employer taxes and fuel prices had 'affected us more than we could have ever imagined.'

Despite the group opening new shops and 'fantastic' trading in March, increases by Labour to employers' National Insurance contributions and business rates were costing them an extra £20,000 per week, he wrote on Instagram.

Alongside increases to the minimum wage, higher taxes had 'instantly hit the high street' in April, he said. 

It had also been hit by higher fuel prices which have increased in the wake of the outbreak of war in the Middle East, which began in late February. 

The High Street was left reeling after Chancellor Rachel Reeves' surprise increase to National Insurance contributions for employers at her first Budget in 2024.

The rate of employer National Insurance Contributions (NICs) rose from 13.8 per cent to 15 per cent in April 2025, with the threshold at which it's paid back slashed from £9,100 to £5,000. This was a shock for firms and hit services sectors, including retail and hospitality, the hardest as they are more likely to employ people on part-time contracts.

Higher business rates had also resulted in the 'devastating' closure, Coughlan said.

Cafes, bakeries and restaurants are among those grappling with increases to the property tax paid by firms to local authorities.

Rachel Reeves offered pubs and music venues a discount on their bills after the industry erupted in fury as it was revealed bills would increase for many.

Before the last Budget, the Government had promised to level the playing field for bricks and mortar businesses compared to online firms who have historically paid less for their out-of-town warehouses.

But many retailers were in fact whacked with hefty increases to their bills.

Ranganathan, who presents the BBC Radio 2 morning show and is also known for appearances on panel shows such as Mock the Week and QI, shared a post about the closure, writing: 'Gutted isn't the word.'