This ad will be closed automatically in X seconds.

Vin in BBC’s ‘unfair system’ report

The challenges facing bricks and mortar retailers are in the spotlight, with chancellor Rishi Sunak announcing a new £5bn support package for the High Street over the weekend (February 28), ahead of the Budget on Wednesday (March 3). However, Bira (British Independent Retailers Association) and BRC (British Retail Consortium) continue to lobby for an extension of the business rates holiday (in line with Scotland) followed by a business rates overhaul.

Above: Bira member and spokesperson for independent retailing: Vin Vara of The Tool Shop Group.
Above: Bira member and spokesperson for independent retailing: Vin Vara of The Tool Shop Group.

In the run-up to the Budget, housewares and hardware stockist, Vin Vara, owner of The Tool Shop Group spoke out for a BBC report last week (February 25). “I pay the same rates at my Islington store as Amazon pays for a big warehouse. Where’s the logic in that? They do 50 times the revenue,” said Vin. Also featuring comments from Bira’s ceo Andrew Goodacre, the BBC report highlighted how the unfair rates system will contribute to more shop closures if not addressed by the chancellor this week.

Vin’s chain of central London stores has diminished from 12 in 2019 to five, with the Paddington shop due to close soon. If business rates are to go ahead from April, the bill for just four stores would be around £66,000.

“We need to think outside the box: how do we get the High Street back? We just need there to be a fair and level playing field,” stated Vin.

*5 Under the newly announced £5bn support package for the High Street (to be elaborated on in the Budget), non-essential retailers will be able to apply for grants of up to £6,000 to help them start trading again when shops can reopen.

* In mid February, Scotland’s finance secretary Kate Forbes announced another financial year’s extension of the business rates holiday in Scotland.

 

Top: The Tool Shop Group’s Housewares store at Waterloo, London.

MORE NEWS
PTW (1)
 
Introducing a brand new insightful publication from the team behind Progressive Housewares...
Woodbridge (1)
 
Retail Barometer illuminates positive influences on trade, with average spend up for 76% of respondents....
Top-Drawer
 
In Clarion Events’ survey, 82% of buyers and interior designers will be attending the autumn show....
Prue
 
Celebrity Prue Leith reveals her new dream kitchen, featuring wall racks full of tools and utensils....
Homebase_BeKind
 
Retailers, Home Office and Crimestoppers launch a campaign to encourage kindness to shop workers as more stores reopen....
PGH_feat
 
The April edition of Progressive Housewares is winging its way to retailers right now....
Get the latest news sent to your inbox
Subscribe to our daily newsletter

The list doesn't exist! Make sure you have imported the list on the 'Manage List Forms' page.