Frasers Group hits out at business rates revaluation delay

house of fraser. oxford st

Mike Ashley’s Frasers Group has hit out at the government, saying it looks on with “anguish and bewilderment” at its decision to delay the next business rates revaluation until 2023.

The government announced earlier this week that the next business rates revaluation would take place in 2023, having postponed this year’s revaluation in May.

The next business rates revaluation is due to take effect in April 2023 and will be based on property values as of April 1, 2021 to properly reflect the impact of the coronavirus pandemic.

Frasers Group said this decision meant it would have to “carefully” review the viability of a number of stores across its portfolio.

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