Wage subsidy keeps the Warehouse out of the red

Thu, 08 Oct 2020

The Warehouse Group will not pay a dividend for the 2020 financial year after the government wage subsidy rescued the company from reporting a loss.The retailer came under fire earlier this year for pressing ahead with plans to lay off as many as 750 staff, even after it took the subsidy.That included a rebuke from Prime Minister Jacinda Ardern. Other retailers such as Briscoe Group and Hallenstein Glasson attracted criticism for paying dividends when their operations bounced back from the lockdown, having taken the wage subsidy during the...

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