Mike Ashley’s Frasers Group has said the Chancellor’s new business rates holiday is “near worthless” for larger firms and makes it close to impossible for it to take on old Debenhams shops.
The Sports Direct and House of Fraser owner said that the £2 million cap on the amount of relief a company can claim means it will have to review all its stores to find any that might no longer be viable.
On Wednesday the Chancellor extended the holiday on business rates, a tax which all shops and pubs must pay, until the end of June. An original relief package was due to run out at the end of this month.
Business rates relief cap puts stores at risk, says Mike Ashley s Frasers Group | East London and West Essex Guardian Series
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Business rates relief cap puts stores at risk, says Mike Ashley s Frasers Group | Dumbarton and Vale of Leven Reporter
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Rates relief decision makes it difficult to save Debenhams stores
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Business rates relief cap puts stores at risk, says Mike Ashley s Frasers Group | Burnham and Highbridge Weekly News
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