Business Rates
This coverage examines business rates policy and its implications for the UK retail sector. Reporting focuses on government decisions, reforms, rate relief measures, and their impact on store operations, profitability, and investment decisions. Tailored for retail executives and managers, it provides analysis to help navigate costs, advocate for change, and plan effectively in response to fiscal pressures.
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Jun- 2020 -4 JuneCoronavirus
Co-op expands robot service in Milton Keynes
The Co-operative has expanded its same-day autonomous robot deliveries in the UK across Milton Keynes and surrounding towns and villages amid the Covid-19 pandemic. The convenience retailer became the first to trial same-day autonomous robot deliveries in the UK when it teamed-up with Starship Technologies in April 2018 to offer…
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3 JuneHigh Street
28 Oddbins stores saved from administration by unnamed buyer
Off-license retail chain Oddbins has seen 28 of its stores saved from administration by an unnamed buyer. It comes as Philip Duffy and Matthew Ingram, both of Duff and Phelps, announced the sale of a “substantial part” of the business and assets of Whittalls Wine Merchants and associated companies which…
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May- 2020 -21 MayHigh Street
Retailers set to receive £430m worth of tax rebates
The Supreme Court has handed the embattled retail sector a £430m tax lifeline by upholding an earlier decision that cash machines are exempt from business rates. The Court of Appeal ruled in November 2018 that cash machines within existing properties – whether internal or external facing – should not be…
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20 MayHigh Street
Johnsons Shoes Company enters administration
Johnsons Shoes Company, which operates 12 stores under the brands Johnsons Shoes and Bowleys Fine Shoes, has entered administration due to the impact of the coronavirus pandemic. Ian Defty and Richard Toone from insolvency and restructuring firm CVR Global have been appointed as administrators, and have opted to keep all…
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11 MayHigh Street
Trouble ahead for retail vacancy rates, warns BRC
The British Retail Consortium (BRC) and Local Data Company has said the new BRC-LDC Vacancy Monitor has revealed that the rate of store vacancies increased to 12.2% in March. The monitor also reported a 0.3% decrease in vacancy rates in shopping centres to 14.1% compared with 14.4%. The South West…
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6 MayCoronavirus
Business rates revaluation postponed until 2022
A revaluation of business rates will no longer take place in 2021 in line with the government’s latest efforts to “reduce uncertainty” for firms affected by the ongoing pandemic. Communities Secretary Rt Hon Robert Jenrick MP confirmed that legislation has now been introduced to bring the next revaluation forward by…
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4 MayCoronavirus
Government announces new £617m scheme for SMEs in shared office spaces
The Business Rates loophole which meant small businesses in shared office space missed out on a £10,000 cash grant has been plugged with a new £617m funding scheme. The Department for Business, Energy, Innovation & Skills (BEIS) confirmed the new £617m scheme to support businesses in shared spaces, regular market…
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Apr- 2020 -30 AprilCoronavirus
Sainsbury’s to face £500m profit hit
Sainsbury’s has warned that its annual profits could take a £500m hit as a result of the ongoing pandemic, despite a recent rise in grocery sales. The supermarket giant said the profit impact was due to “significant costs” in light of the nationwide lockdown, such as weaker sales fuel, clothing…
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27 AprilCoronavirus
Co-op expects £200m increase in costs amid Covid-19 crisis
The Co-op has warned that the Covid-19 pandemic is expected to increase its costs by over £200m. The grocery retailer also revealed it expects the increase which will be partly offset by increased food sales and the expected business rates relief announced by the chancellor. CEO Steve Murrells said no…
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23 AprilCoronavirus Featured Content
The role of the physical store post-lockdown
The role of the physical store post-lockdown Retailers have been hit by an escalating “perfect storm” of issues recently – digital disruption, business rates increases, a weak Christmas peak, and now the Covid-19 virus. Businesses with greater debts, low cash reserves, and reduced margins were sadly always going to struggle,…
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