RCS - Frasers Group PLC - Statement Regarding Business Rates

FrasersAnnouncement

14/02/2020 07:00

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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. investor.relations@sportsdirect.com

                              (mailto:investor.relations@sportsdirect.com)

 

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