GAME owner Mike Ashley has hit out at what he calls the “near worthless support package” for retailers unveiled by the government this week – and warned of possible store closures as a result.
In a statement issued to the London Stock Exchange, Frasers Group, which wholly owns GAME, slammed the business rates relief announced by Chancellor Rishi Sunak as part of the budget this week.
The rates holiday for non-essential retailers in England ends in June 2021. This means that from the start of July, business rates, which are taxes on properties used for commercial purposes, will be discounted by two-thirds for nine months – up to a maximum of £2m if businesses are closed.
