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Asda and Morrisons paid no corporation tax last year in the wake of their private equity buyouts. The pair paid an average of more than £200m of corporation tax a year between then in the decade preceding their acquisitions. However, as they made losses last year – mostly due to large interest payments on the debts loaded onto their balance sheets – no tax was due, The Sunday Times reported.
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Australian flooring and blinds retailer Carpet Court recently celebrated its 50 year trading anniversary. The milestone follows a busy period for the company. The franchise recently undertook a refresh which included a new website, signage and branding, has expanded to over 200 retail stores nationwide, and is working on a book that records Carpet Court’s history.
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