Paphitis warns it’s ‘goodnight Vienna for physical retail’ without rates reform

Theo Paphitis

Retail tycoon Theo Paphitis has urged chancellor Rishi Sunak to reform business rates or risk the “destruction” of bricks-and-mortar retail. 

Paphitis, owner of stationer Ryman, hardware business Robert Dyas and lingerie specialist Boux Avenue, issued the warning as he updated on trading.

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