Aldi becomes fourth supermarket to return business rate relief
Aldi has become the forth supermarket to return the full value of the business rate relief it has received during the pandemic.
Aldi will pay back more than £100m to the government and devolved administrations.
The decision follows pledges from Tesco, Morrisons and Sainsbury’s to do the same, which will pay back £585m, £230m and £410m respectively.
Asda and the Co op are reportedly still making a decision on whether to return the business rate relief, while Sky News reported Waitrose will not do so. CityAM has approached Waitrose for comment.
Aldi UK chief executive officer Giles Hurley said: “Thanks to our amazing colleagues, we have been able to remain open during lockdowns and despite the increased costs we have incurred during the pandemic, we believe returning the full value of our business rates relief is the right decision to help support the nation. Our continued investment for our colleagues and our customers will remain unchanged.”
In March the government waived all retail business rates for the financial year in an effort to cushion the blow of the pandemic.
Aldi announced plans in September to invest £1.3bn in the UK over the next two years as it reported a 49 per cent increase in profit for 2019.
The German discount supermarket said it would open 100 new stores in the UK in 2020 and 2021, sticking to its target of 1,200 stores by 2025.