Blink and youll miss itbut some high-street companies are finding ways to reduce their business rate bills.
Last week two retailers proposed to ease their business rates burden using company voluntary arrangements, or CVAs, an early-stage insolvency mechanism where businesses seek better terms with creditors.
Debenhams, the department store chain, is looking for a 48-50 per cent cut in the business rates on 58 stores. Outdoor & Cycle Concepts backed by PAI, the French private equity group, and owner of Runners Need, Snow + Rock and Cotswold Outdoor stores is also asking creditors to ease up on rent and rates.
The trend comes amid a boom in company collapses. Corporate insolvencies in England and Wales rose 5 per cent in the first…
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