Tycoon Paphitis urges rates reform as strong Christmas follows annual loss

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Theo Paphitis has called on the government to “grasp the business rates nettle” as he gave an update on Christmas trading and Ryman posted its first annual loss in more than two decades of his ownership.

“The strength of our ecommerce trading masks the much more challenging store environment, in particular in city centres and prime locations, where business rates are unfairly high.”

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