B&M brothers’ £100m windfall BOSSES QUIDS IN AFTER COVID SALES SURGE

THE billionaire brothers behind budget chain B&M have netted nearly £100million after a surge in sales during the Covid-19 crisis. s.

Simon and Bobby Arora wereere among the big winners after B&M’s parent company announced another £ 200mil lion special dividend yesterday, because it has more cash than it knows what to do with. h.

Almost £30million of that is set to go to the Aroras’ Luxembourg-based family trust, SSA Investments, which owns 15 per cent of the business.

It is the third special dividend since last March, totalling £600million. Along with a half-year dividend, the Arora family will have taken almost £100million worth of windfalls.

B&M has seen trade rocket while other retailers

UPMARKET fashionhion brand Alexander McQueen says business was “significantlyy impacted” by the Covid crisissis in the first half of last year.

The firm, part of fashion group Kering, relies heavily on tourist spending, which hass been hammered by the pandemic. It came after thee firm went from a £4.1millionn loss to a just under £260,000 profit in 2019, as turnover leapt to £24.3million. have suffered in the pandemic. As an essential store it could remain open. Parent company B&M European Value Retail yyesterdayy announced a 22.5 per cent leap in saless from the end of September to Boxing Day. It opened 161 new stores in the three monthmonths, creating 500 jobs, with another 181 planned by March. Chief exeexecutive Simon Arora, 51, yesyesterday announced 30,000 staff would get an eextra week’s pay “in recognitionre of their considerable consid efforts”. He and trading director Bobby, Bobby 49, took over a lossmaking maki Blackpool-based grocery groc chain in 2004 and turned B&M into a boomingboo bargain bazaar. YoungerY brother Robin,Ro 36, joined in 2008.200 The family is said to be worth £2.1billion.

ALL Bar One owner Mitchells & Butlers plans to ask investors cash after for lockdowns forced closure of all the its pubs. The group, which runs the Harvester chain, it was “prudent” said to consider an raise as it burns equity through £40million a month and faces a £50million debt repayment this quarter. Mitchells said it had a £125million cash balance.