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More than $11 million in wage subsidies repaid by Briscoe Group

More than $11 million in wage subsidies repaid by Briscoe Group

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Large retailer Briscoe Group has repaid more than $11 million received in wage subsidies to the government.

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The Briscoe Group owns 84 stores throughout New Zealand.
Photo: RNZ

The Briscoe Group own the Briscoes Homeware, Rebel Sport and Living & Giving stores throughout New Zealand.

The NZX-listed company last month reported a $28m half year profit, and an increased dividend.

Company chair Dame Roseanne Meo says the company was eligible for the first round of the subsidy, which had allowed it to keep all staff on full wages during lockdowns.

She says sales have since rebounded strongly, giving the board confidence to repay the money.

The group’s managing director Rod Duke has said the Covid-19 lockdown measures had focused people’s thoughts on buying things for their homes, while they couldn’t travel or go out, which had helped the company.

However, the organisation was criticised recently by an academic for holding on to the subsidy after reporting its profit and dividend.

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