16 Oct 2020

Briscoe Group pays back wage sub, defends taking it initially

From Checkpoint, 5:10 pm on 16 October 2020

The Briscoe Group believes it was justified in taking the government wage subsidy but says it's now paid back all $11.5m of it because sales are looking good.

The retail group that also includes Rebel Sports and Living and Giving took the first round of subsidy based on a 30 percent drop in revenue for a specified period - but says after things started to pick up the board made a decision to repay the money.

The move also follows heavy criticism of the Briscoes and other corporates who took millions in subsidies despite still returning large profits.

Briscoe Group board chair Dame Rosanne Meo explains why it took the wage subsidy in the first place.