UK high streets shed 140k jobs this year with more to come – study

30th December 2019 / NewsBits
  • UK high streets have shed more than 140,000 jobs this year as store closures and retail failures made 2019 one of the most challenging years in a generation.
  • More than 2,750 jobs were lost every week, according to a detailed analysis by the Centre for Retail Research (CRR) published today.
  • It predicts the picture will worsen in 2020, unless the government intervenes, with high business rates one of the factors blamed for accelerating chain store closures.
  • Prof Joshua Bamfield, the CRR’s director, said retail was in crisis owing to high costs, low levels of profitability and sales moving online.

Source: The Guardian



At a time when reporting the truth is critical, your support is essential in protecting it.
Find out how

Related Articles:

The European Financial Review

European financial review Logo

The European Financial Review is the leading financial intelligence magazine read widely by financial experts and the wider business community.