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04-12-2020, 03:52 PM
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Supermarkets repay rates relief after backlash

https://www.bbc.co.uk/news/business-55184573

Lidl will join other supermarkets to repay more than £100,000,000 of business rates relief it received during the pandemic.

The firm's UK boss said the company felt it was "the right thing to do".

It follows similar moves by the UK biggest grocers including Tesco, Sainsbury's and Asda, and will see more than £1.900,000,000 handed back to taxpayers.

Some retailers, including those above, whose sales have boomed during the crisis, have been criticised for taking government help while paying dividends to shareholders.
In March, all retail, hospitality and leisure businesses in England were given a business rates holiday for 12 months to help them get through the crisis.

However, shops deemed "essential" by the government, such as supermarkets, were allowed to stay open during lockdown.

Others, including Morrisons, Aldi, Asda, Pets at Home and B&M, have also pledged to repay the rates relief, citing strong sales during Covid.
"Honesty" from supermarkets - will wonders never cease .....
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04-12-2020, 03:59 PM
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Re: Supermarkets repay rates relief after backlash

Once Tesco revealed it was paying back the money, all the others HAD to join in otherwise they would have been slaughtered in the press.
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04-12-2020, 03:59 PM
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Re: Supermarkets repay rates relief after backlash

I believe Marks & Spencer have refused to hand back any money.
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04-12-2020, 04:04 PM
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Re: Supermarkets repay rates relief after backlash

Originally Posted by scot37 ->
I believe Marks & Spencer have refused to hand back any money.
Well, M&S isn't a supermarket:

https://www.retailgazette.co.uk/blog...0ours%E2%80%9D.

Unlike Tesco, which has been able to keep all its stores open through the pandemic, M&S has seen most of its clothing & home store space closed for extended periods.

In M&Sís food division, cafes and hospitality services, which prior to the crisis accounted for about four per cent of food revenue, have been closed, while its franchise business, particularly in travel hubs, has been severely impacted.

Trading at M&Sís high street and town centre stores has also been hit by the major drop in customer footfall.

M&S reported a loss for its first half and did not pay shareholders a final dividend for the 2019/20 year and has said it does not anticipate paying dividends for 2020/21.
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04-12-2020, 04:16 PM
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Re: Supermarkets repay rates relief after backlash

Originally Posted by scot37 ->
I believe Marks & Spencer have refused to hand back any money.
M&S's food halls remained open but their stores' clothing and homeware side had to remain closed.
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04-12-2020, 04:42 PM
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Re: Supermarkets repay rates relief after backlash

Originally Posted by Percy Vere ->
M&S's food halls remained open but their stores' clothing and homeware side had to remain closed.
Correct. They have been furloughing and/Or redeploying staff where possible. Bear in mind that they are in a process of reducing staff numbers anyway.
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04-12-2020, 05:34 PM
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Re: Supermarkets repay rates relief after backlash

Originally Posted by Percy Vere ->
Once Tesco revealed it was paying back the money, all the others HAD to join in otherwise they would have been slaughtered in the press.
Good for Tesco to jog their minds.
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