B&M will be closing all of it’s stores for the opening day of 2021 to allow staff to enjoy New Year and extra time off.

The retail chain has been open to shoppers since the start of the pandemic as an essential retailer and as a thank you to its staff will be giving them New Year’s Day off.

B&M announced the news on their Facebook page posting: “To give our colleagues a well-deserved rest, all B&M stores will be closed on January 1st.

“We hope 2021 is a great year for all of our colleagues, their families and all B&M shoppers.”

The chain has also joined other essential retailers in telling shareholders they will be handing back money saved from the government’s  business rates relief this year which is said to be around £80 million.

Supermarkets Tesco, Sainsbry’s, ASDA and Aldi said they would be handing back a collective £1.7 billion following a business rates holiday for the current financial year.

In a stock market announcement, B&M European Value Retail said "although significant uncertainty remains, the group believes it is now right to forego the business rates relief granted to B&M".

While B&M’s chief executive, Simon Arora called for a change to “outdated” business rates.

He said: "We request urgent reform of the outdated business rates system that is contributing to job losses across the retail sector and is acting as a deterrent to B&M and other potential occupiers taking up vacant space in many locations."