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High street guru warns 20,000 shops could fold under business rate pressure

October 30, 2013

The former boss of Iceland warned Parliament today that business rates are putting tens of thousands of small businesses at risk of bankruptcy.

Bill Grimsy, who published an independent review into the retail industry earlier this year, said current business rates which have not changed since 2008, were unaffordable despite falling rent prices in much of Britain since then.

Grimsy said rates are “causing many independent retailers in this country to undergo financial pressures which they will not survive…

Read the full story in the Evening Standard

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