Frasers Group plc

02/14/2020 | Press release | Distributed by Public on 02/14/2020 01:01

Statement Regarding Business Rates

RNS Reach Story
Go to market news section

Statement Regarding Business Rates

Released 07:00 14-Feb-2020



RNS Number : 9865C
Frasers Group PLC
14 February 2020

Date: 14 February 2020

Frasers Group Plc

('Frasers Group' or the 'Company')

STATEMENT REGARDING BUSINESS RATES

Frasers Group plc, one of the biggest employers on the UK High Street, has backed the campaign by the British Retail Consortium and 52 other chains calling for the Government to take urgent action on Business Rates.

With the UK High Street on life support, the time for reform has long since passed. Transitional relief in particular is disastrous for a great many retailers and needs to be significantly modified to at least ensure the correct amount of rates are paid by the end of transitional relief periods. The current system whereby downward transitions of just a few percent a year means that the correct amount is never reached or even close to, punishes those in greatest need of relief.

Within the Frasers Group itself we have some stores paying up to four times the rates bills they should be. This kind of pattern clearly cannot be right and is no doubt repeated widely across UK Retail; it is a significant contributor to the dire straits the High Street currently finds itself in.

Ends.

Frasers Group plc

Tom Piper, Company Secretary

T. 0344 245 9200

E. [email protected]




This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
END
NRAUOAORRBUUAUR
Close
London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.
©2014London Stock Exchange plc. All rights reserved



Statement Regarding Business Rates - RNS