The government announced earlier this week that the next business rates revaluation would take place in 2023, having postponed this year’s revaluation in May.

The next business rates revaluation is due to take effect in April 2023 and will be based on property values as of April 1, 2021 to properly reflect the impact of the coronavirus pandemic.

Frasers Group said this decision meant it would have to “carefully” review the viability of a number of stores across its portfolio.