Shops and restaurants 'will see mass closures' without Vat relief, says retailers' group

A swathe of businesses, particularly restaurants, have recently closed their doors for the last time citing unmanageable costs as the reason. File picture: iStock

A retailers’ group has warned that mass closures will inevitably follow should the Government not intervene regarding the levels of Vat being paid by businesses.

Retail Excellence Ireland said the Government is “mistaken if it believes that hard-pressed retailers can absorb a series of rapidly mounting labour costs, punitive repayment terms, and ongoing supply chain issues — and still remain in business”.