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The Latest Breaking News from Altus Group

Homebase’s £5m tax rebate delay revealed as 74 stores go up for sale

The stricken firm has set a deadline of the end of next week for potential buyers to snap up its remaining shops in the UK and Ireland

Evening Standard

Hospitals and police stations set for tax hikes in business rates overhaul

Analysis of official Government data by Altus Group found that this new high street ‘levy’ will apply to 1,589 large distribution warehouses.

The Independent UK

Rachel Reeves must keep promise to ease business rates burden, say retailers

Plea comes as analysis warns of £2.7bn tax hike mainly affecting smaller retail, leisure and hospitality firms

The Guardian - UK

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Extra £575 million business rates to pay for host of firms in London

A host of companies face collectively paying £575.6 million extra in business rates on London properties after missing out on certain support measures announced by the Chancellor, it has emerged.

Evening Standard

Business rates could rise by £1.95bn in ‘bleak picture’ for UK retail and hospitality

Inflation-linked increase next year would be ‘final nail in the coffin’ for many businesses, trade bodies warn

The Guardian - UK

Pub closures rise sharply amid warning over planned business rate change

Nearly 400 pubs closed their doors for good in England and Wales in first half of 2023, almost as many as the whole of 2022

The Guardian - UK

Number of pubs shutting for good across England and Wales jumps 50%

More than two pubs a day have left local communities over the first half of the year.

The Independent UK

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Inflation means last call for raft of UK pubs: study

London (AFP) - The number of pub closures in England and Wales surged 47 percent in the first quarter from a year earlier as inflation soared, a study showed Tuesday.

AFP

Over 150 pubs shut down in 2023 as energy bills cripple industry

More than 50 pubs are disappearing per month

The Independent UK

Almost 150 pubs have shut so far this year amid energy bills crisis

More than 50 pubs have been demolished or redeveloped for other purposes each month so far this year

Evening Standard

‘We can’t carry on’: over 150 pubs have shut this year as energy bills soar

Fears closure rate will increase in England and Wales after government scaled back support

The Guardian - UK

Almost 60% surge in pubs shutting for good in first quarter of 2023

More than 50 pubs have been demolished or redeveloped for other purposes each month so far this year.

The Independent UK

High street businesses to benefit from business rates drop

Last year, the Government announced the first revaluation process for business rates in six years.

The Independent UK

London offices face extra £1.32bn bill from business rates revaluation

London’s huge office sector faces a £1.3 billion extra business rates burden over the next three years, according to research published.

Evening Standard

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The Independent UK

Airports set for bumper business rates amid £1.4bn tax rise

Business rates revenues are expected to rise by £1.4bn, or 4.9%, to £29.9bn when new valuations come into force on Saturday April 1.

The Guardian - UK

Loss of nearly 15,000 UK retail jobs a ‘brutal start to 2023’, report says

Majority of job losses are at large retailers such as Tesco and Asda, according to Centre for Retail Research

Daily Mirror

Three in 10 pubs to close across Britain next year due to crippling energy price hikes

Fifty pubs in England and Wales were turned into something else last month, according to property experts Altus Group – a steep rise from the average of 32 a month last year

Manchester Evening News

The big name shops that have vanished from Greater Manchester as scale of retail woes revealed

A staggering 47 stores shut up shop for the last time every day in 2022

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Evening Standard

Nearly 50 shops closed down on average every day in UK last year, analysis by Centre for Retail Research shows

Some 17,145 shops on high streets and other locations across the country closed in 2022, according to new analysis

The Independent UK

Nearly 50 shops closed their doors every day in UK last year – survey

Some 17,145 shops on high streets and other locations across the country closed in 2022, according to new analysis.

The Independent UK

Thousands of businesses go bust while awaiting business rates rebates

Research has shown that 3,165 business premises have entered insolvency while waiting for response to rates challenges.

Evening Standard

Number of pubs in England and Wales falls to record low

There are fewer pubs in England and Wales than ever before, according to analysis that sheds light on the ruinous impact of the pandemic and soaring business costs.

Wales Online

Fewer pubs in England and Wales than ever before

Analysis shows the total number of hostelries is now 7,000 less than a decade ago, with the pandemic being followed by soaring inflation, energy costs and the cost of living

Wales Online

650,000 jobs lost in retail sector as shops close

72,580 shops have closed down in the last five years

The Independent UK

Almost 650,000 UK retail jobs lost since 2017

Industry experts are calling for caution over business rates levels next year.

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