Four hundred large-format British stores may face closure, if they are included in the government’s new business rates surtax on premises with a rateable value over £500,000, the BRC said.
Given the small profit margins that exist across retail, a significant rise in rates for large stores would force these shops to raise their prices, employ fewer people, or even close their doors entirely, BRC noted.
Given the small profit margins that exist across retail, a significant rise in rates for large stores would force these shops to raise their prices, employ fewer people, or even close their doors entirely, BRC noted.
