Kingfisher to return UK and Ireland business rates relief
Kingfisher, the owner of B&Q and Screwfix, is to return in full the amount of business rates relief it received in the UK and Ireland as a result of the coronavirus pandemic.
The group’s total annual business rates bill eligible for the relief is approximately £130 million.
Earlier this year, the company also repaid the £23 million it received under the UK Government’s Job retention scheme.
In a statement issued today, Thierry Garnier, Kingfisher chief executive, said: “Government support through this crisis has been invaluable for many companies, including ours.
“We also took swift action within our business in response to the pandemic to protect Kingfisher. We rapidly adapted our operations, both online and in-store, to fulfil the essential needs of our customers. We made significant investments to ensure the safety of our customers and teams, taking important steps to strengthen our balance sheet and limit the financial impact of Covid-19.
“These actions, combined with the roll-out of our new strategy and the hard work of our colleagues and teams, have delivered growth throughout the Group and led to the hiring of 3,500 additional colleagues. Given this resilience, and our commitment to support our communities, we believe that returning the UK and Irish business rates relief in full is the right thing to do.”
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