Retailers need flexible business rates

Struggling retailers are demanding an urgent review of

business rates amid fears that a forthcoming rise will force the closure of many stores that are already struggling to survive.

According to the Daily Mail, business rates are due to leap by 5.6 per cent in April and if the rise goes ahead there are dire predictions that more household names will vanish from the already battered High Street.

Peacocks, La Senza and Barratts are among the familiar retailers that have been placed in administration over the past month. Business rates are a source of deep resentment among retailers. In recent years, landlords have started negotiating on rent, but rises in rates have been relentless.