J Sainsbury PLC mentioned Thursday that it’ll forgo the enterprise charges aid it obtained from the U.Okay. authorities and the devolved administrations from March to assist it face the coronavirus pandemic.
The British grocer mentioned it obtained 230 million kilos ($307.4 million) of U.Okay. enterprise charges aid within the first half of its fiscal 2021, which partly offset the coronavirus-related prices of GBP290 million the corporate incurred in in the course of the six months ended Sept. 19.
In March, J Sainsbury anticipated the pandemic hit on clothes, gasoline and basic merchandise to be broadly offset by stronger grocery gross sales and round GBP450 million of enterprise charges aid.
The corporate’s transfer to forgo the enterprise charges aid follows comparable selections by grocers Tesco PLC and Wm. Morrison Supermarkets PLC, which mentioned Wednesday that they might pay again GBP585 million and GBP274 million of enterprise charges aid, respectively.