BUDGET chain Shoe Zone — which has three stores on the Isle of Wight — has warned it may have to close 100 shops nationwide unless it gets a cut in its business rate bill.

According to the BBC, Shoe Zone has warned that it could be forced to close a fifth of its stores if business rates do not change.

Shoe Zone has shops in Newport High Street, Ryde High Street, and in Regent Street, Shanklin.

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Boss Anthony Smith told the BBC: "If people want vibrant High Streets, they really do need retailers like us to keep our shops open in smaller towns."

Retailers have called on HM Treasury to reform business rates in the budget scheduled for next month.

Business rates are similar to council tax for business properties. They are paid by businesses, or landlords if a property is empty.

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