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