B&M s kind gesture to staff as a way of saying thank you for working through pandemic
It is classed as an essential retailer and has been open throughout the various lockdowns and Tier regulations
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B&M to give 30,000 staff an extra week s wages as boss gets £30m payout
Founder and chief executive of B&M Bargains Simon Arora also handed himself a massive payout of £30 million â in addition to a £44 million dividend payout revealed two months ago
20:36, 7 JAN 2021
B&M staff will get an extra week s wages (Image: Getty Images)
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B&M Bargains billionaire chief executive has handed himself another massive payout of £30million due to soaring Christmas sales.
Retail magnate Simon Arora, 51, revealed a new special dividend of 20p-a-share would be handed out to shareholders.
Mr Arora and his family are the biggest shareholders in the business, meaning he will pay himself £30million just two months after funnelling £44million in dividends to his offshore family trust.
Budget retailer B&M will also share some of the profits with staff, and has agreed to pay 30,000 workers an extra week s wages.
The payouts come as the budget retailer saw a surge in sales during the second national lockdown and subsequent tier regime as the stores benefitted from their essential retail status.
The founder and chief executive of B&M Bargains has handed himself another massive payout of £30 million as Christmas sales soared.
Founder and chief executive Simon Arora revealed a new special dividend of 20p-a-share would be handed out to shareholders.
The boss and his family are the biggest shareholders in the business, meaning he will pay himself £30 million, in addition to a £44 million dividend payout revealed two months ago.
B&M will also share some of the profits with staff, and has agreed to pay 30,000 workers an extra week’s wages.
The payouts come as the retailer saw a surge in sales during the second English national lockdown and subsequent Tiering as the stores benefitted from their “essential” retail status.
B&M staff to get wages boost as owner to net £30m extra
B&M owner Simon Arora has agreed to share some of the Christmas profits with staff
B&M Home Store owners, brothers Simon, Bobby and Robin Arora
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