Pets at Home to repay £28.9 million of business rates relief
Pets at Home has joined a range of other retailers in deciding to repay the business rates relief it received during the Covid-19 pandemic.
The retailer said the decision to give back the £28.9 million is in line with its guiding principle of treating all stakeholders fairly and the continuing strong performance of its business.
Pets at Home said the financial impact of the pandemic on the company this year is currently estimated to come in at over £35 million.
Peter Pritchard, group chief executiveof Pets at Home, said: “We were very grateful for the rates relief provided back in March during a time of significant uncertainty, which helped us to take the decision to keep our stores, online operations and veterinary practices open. Recent positive news around the launch of vaccinations for Covid-19 has led us to reassess the level of uncertainty ahead.”
“Pets at Home is a robust business, both operationally and financially, with amazing colleagues, great operations, good liquidity and a strong balance sheet. Our decision today demonstrates our clear commitment to acting responsibly and treating all of our stakeholders fairly.”
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