Arcadia and Debenhams: Business Support and Job Retention

Nickie Aiken Excerpts

Wednesday 2nd December 2020 Commons Chamber

[Paul Scully]

The existing commitments made to the Pensions Regulator do indeed need to be kept—it is important to say that.

The hon. Gentleman talks about support for employees. If people need financial support quickly, they may be able to claim universal credit and/or employment and support allowance. Our plan for jobs includes a series of measures to protect, support and create jobs, because it is important to get the people affected back into work as soon as possible. We have our £238 million job entry targeted support programme to support that.

The hon. Gentleman also talks about the possibility of suppliers losing out. Administrators will take over the company and seek to establish the position regarding suppliers. The trade credit reinsurance scheme is designed to support businesses coping with the economic impacts of covid-19 and to ensure that there is adequate confidence and credit in supply chains.

[Nickie Aiken (Cities of London and Westminster) (Con) [V]]

As my hon. Friend is aware, the Arcadia Group is headquartered in my constituency and its brands, including Debenhams and Topshop, have their flagship stores on Oxford Street. Covid has the potential to be the straw that breaks the camel’s back for bricks-and-mortar retailers. The New West End Company and I welcome the continuing support of my hon. Friend and his Department for the retail sector. I note the Government’s announcement this week on extending shopping trading hours for Monday to Saturday until January but, particularly in the short term, an extension of Sunday trading hours would be of huge benefit to retailers. Will my hon. Friend support me, The Sun on Sunday newspaper, retailers such as Marks & Spencer and others who are campaigning to extend Sunday trading?

[Paul Scully]

I look forward to joining the New West End Company and, I assume, my hon. Friend on Saturday to celebrate not only Small Business Saturday but traffic-free shopping in the west end. The west end accounts for 3% of the entire UK economy and many, many jobs. We do not propose to extend Sunday trading at this stage, but we are extending shopping hours throughout the weekdays. We want to work with local authorities to make sure that they can support the safe return of shoppers to high streets up and down the country, including in the west end.