The consequences of the latest lockdown-related restrictions imposed by the government—with non-essential retail already closed for several weeks—will be severe for many businesses that yet again face losing £2 billion per week in sales, according to the British Retail Consortium (BRC), which recently said this could raise the number of unemployed in the new year.
“Already, 178,000 retail jobs have been lost in 2020, and with over 250,000 retail staff currently on furlough, that number could increase dramatically in the new year,” BRC chief executive Helen Dickinson said in a statement responding to the announcement of a national lockdown.The consequences of the latest lockdown-related restrictions imposed by the government-with non-essential retail already closed for several weeks-will be severe for many businesses that yet again face losing £2 billion per week in sales, according to the British Retail Consortium, which recently said this could raise the number of unemployed in the new year.#
"Retailers want to trade their way to recovery but if they are forced to close then further financial support will be needed or many businesses will go bust and thousands of viable jobs will be lost. The biggest difference the government can make is to extend business rates relief from April for those hardest hit by repeated lockdowns," he added.
Prime Minister Boris Johnson early this month announced a national lockdown and instructed people to stay at home to control the virus and save lives.
The decision followed a rapid rise in infections, hospital admissions and case rates across the country. This drastic jump in cases has been attributed to the new variant of COVID-19, which scientists have now confirmed is between 50 and 70 per cent more transmissible.
Fibre2Fashion News Desk (DS)
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