Mike Ashley’s Frasers Group urges PM to reform business rates

Sports Direct

Mike Ashley’s Frasers Group, formerly known as Sports Direct, has written to Prime Minister Boris Johnson to push for an “urgent fundamental review” into business rates.

The letter, signed by chief financial officer Chris Wootton, said the current business rates system results in many stores “paying the incorrect amount”, with some stores paying over the odds while others are “not paying as much as they should”.

The letter said the business rates relief that will be offered to small businesses as referenced in the Queen’s Speech last year, while welcome, “does not address the dire straits many of the medium and large stores on our high streets find themselves in”.

“We would note that it is the medium and large stores that drive footfall on to our high streets, which inherently benefits the smaller stores. When the key anchor stores fall away the high streets become desolate and smaller stores close as well. Improved rates relief or not, without footfall these smaller stores cannot survive,” the letter adds.

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Retail Week

Register for free to continue reading

Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • 3 free articles a month on Retail-Week.com
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.