THE RETAIL BULLETIN - The home of retail news
Home Page
News Categories
Christmas Ads
Commentary
Department Stores
Electricals & Technology
Entertainment
Fashion
Food & Drink
General Merchandise
Grocery
Health & Beauty
Home & DIY
Interviews
Property
Retail News
Retail Solutions
Shopping Centres, High Streets & Retail Parks
Sports & Leisure
Retail Events
THE Retail Conference 2022
Retail Women In Leadership 2022
Digital Transformation Strategy 2022 Part 2
Omni Channel Futures 2023
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Sainsbury’s to forgo business rates relief

Sainsbury’s has said it will forgo the business rates relief that the UK government and the devolved administrations have granted to its stores since March. The… View Article

FOOD & DRINK

Sainsbury’s to forgo business rates relief

Sainsbury’s has said it will forgo the business rates relief that the UK government and the devolved administrations have granted to its stores since March.

The retailer said it spent £290 million in its first half on Covid-19 measures to keep staff and customers safe, although this was partially offset by £230 million of business rates relief. 

However, Sainsbury’s said most of its stores have have experienced strong trading throughout the pandemic which means its sales and profits have been better than originally expected, particularly since the start of the second  lockdown in England. As a result, it has chosen to forgo the business rates relief offered.

Simon Roberts, Sainsbury’s chief executive, said: “While we have incurred significant costs in keeping colleagues and customers safe, food and other essential retailers have benefited from being able to open throughout. With regional restrictions likely to remain in place for some time, we believe it is now fair and right to forgo the business rates relief that we have been given on all Sainsbury’s stores. We are very mindful that non-essential retailers and many other businesses have been forced to close again in the second lockdown and we hope that this goes some way towards helping them.”

However, Roberts said Saisnbury’s is continuing to urge the government to review the business rates system to create more of a level playing field between physical and online retailers. 

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

THE NEXT EVENT

See all upcoming events

LATEST VIDEO

UKG LifeWork ALL: Register your place now to hear more. RETAIL HR 21 Sept LONDON
UKG LifeWork ALL: Register your place now to hear more. RETAIL HR 21 Sept LONDON

Watch video >