Dec 3, 2020
Sainsbury’s to forgo £410m in business rates relief
J Sainsbury will forgo business rates relief granted by the UK government during the coronavirus pandemic, following the lead of rival supermarket groups Tesco and Morrison's. The FTSE 100 company benefited from £230m of business rates relief in the first half of its financial year, helping to offset £290m in costs incurred to protect staff and customers from infection, it said on Thursday. The group expects to return roughly £410m in business rates relief. "With regional restrictions likely to remain in place for some time, we believe it is now fair and right to forgo the business rates relief that we have been given on all Sainsbury's stores," chief executive Simon Roberts said. Sainsbury's said it would agree with government how best to forgo its business rates relief, as repayment is not required by law.
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