Arcadia and Debenhams: Business Support and Job Retention Debate
Full Debate: Read Full DebateDepartment: Ministry of Housing, Communities and Local Government
Christian Matheson
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Arcadia and Debenhams: Business Support and Job Retention
Christian Matheson Excerpts(3 years, 11 months ago)
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Paul Scully
I know that those in the Treasury will have listened to that, and they are very aware, particularly in relation to retail and hospitality, of the cliff edge that comes when business rates are due to return at the end of April. We will certainly look at that, and an announcement will be forthcoming.
Christian Matheson (City of Chester) (Lab)
In 1791, Susannah Towsey, a draper and haberdasher, moved to more commodious premises on Eastgate Street in Chester. She became Susannah Brown, and Browns of Chester still trades today at the retail heart of Chester, as part of Debenhams. As with other retail premises, it has been undermined by dodgy sale and leaseback property deals led by private equity firms, which has not helped the situation. Browns is one of Debenhams’s stores that trades well, at a profit. Will the Minister speak to administrators and support them, so that where there is potential for shops to continue as a going concern, that is explored and supported?
Paul Scully
I agree that it is so important that we continue a viable business where it is possible, and I know that the administrators will have that at heart.