Ragtrade billionaire Solomon Lew has welcomed a new government stimulus initiative.
The Job Keeper Subsidy, announced as part of the second stimulus package, will offer a $1,500 per fortnight payment to displaced workers.
Lew, chairman of Premier Investments, said the move will give retailers greater ability to retain members during the COVID-19 crisis.
Cotton On Group and Patagonia are among retailers to go above requirements, offering employees a level of financial support during this time.
“Premier’s 9,000 staff have been stood down due to necessary store closures associated with social distancing and health measures mandated by the Prime Minister, the State Premiers and Chief Medical Officers," Lew said.
"Premier’s employees will now be able to access the Job Keeper subsidy in addition to the special arrangements we have put in place for them to access accrued annual and long service leave entitlements to reduce the financial impact over this time.
"The ability to retain team members during this challenging time will give businesses the best possible opportunity to bounce back and thrive.
“Premier remains focused on the health and safety of its employees, its customers and the broader community and the company is committed to doing everything it can to stop the spread of COVID-19.”