Theo Paphitis calls for fresh legislation as Temu ‘destroys’ British high streets

Former Dragon’s Den dragon and Ryman’s chairman Theo Paphitis has hit out at Chinese etail marketplace Temu for “destroying small UK retail businesses.”
Speaking at Spring Fair, Paphitis said that although Temu is “operating absolutely legally”, its business model exploited legislative loopholes which enabled it to “suck up a big swathes of the UK consumer market and give nothing back” in terms of import tax or VAT.
He added that the online ma