Premier Investments to return $15 6m portion of JobKeeper accountantsdaily.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from accountantsdaily.com.au Daily Mail and Mail on Sunday newspapers.
Premier Investments Chairman Solomon Lew. Source: AAP Image/Julian Smith
Smiggle owner Premier Investments has bowed to public pressure and promised to pay back $15.6 million worth of JobKeeper payments it received during the pandemic last year.
But that’s only about 22% of the $68.7 million the profitable company was paid under the scheme between April and September.
The retail giant unveiled its repayment plan on Monday after facing months of criticism for paying out $111 million in dividends to investors despite taking almost $70 million from the public purse.
Billionaire chair Solomon Lew previously refused to repay taxpayers and only last month said he’d hold the $15.6 million in a rainy day fund to pay staff during lockdowns in Western Australia and Queensland.
Brokers point to these ASX 200 shares to beat the market in May
Brokers point to these ASX 200 shares to beat the market in May
Brokers think Graincorp Ltd (ASX: GNC), Northern Star Resources Ltd (ASX: NST) and these ASX200 shares are a buy in May. We take a closer look.
Kerry Sun is a site writer at The Motley Fool Australia. He holds a Bachelor of Commerce, majoring in Finance and Economics. Kerry started his investing and trading journey back in 2014, riding the highs of A2 Milk and lows of Slater and Gordon. Kerry takes a techno-fundamental view on stocks, understanding the importance of sound fundamentals supported by a strong technical chart. Current sectors of interest include US sports betting, rare earths, lithium and BNPL.
Premier Investments hands back $15 6 million in JobKeeper ragtrader.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ragtrader.com.au Daily Mail and Mail on Sunday newspapers.