Retail experts have cautioned that recent UK job losses will be the ‘tip of the iceberg’ without further support from the Treasury, as new figures reveal about 850 jobs have been lost from the sector each working day since the start of the year. Analysis by the Centre for Retail Research (CRR) shows 27,096 jobs have been shed and 1,023 stores have been earmarked for closure so far in 2021.
The research, which covers insolvencies by retailers with 10 or more stores, highlights the turmoil on the High Street.Retail experts have cautioned that recent UK job losses will be the 'tip of the iceberg' without further support from the Treasury, as analysis by the Centre for Retail Research (CRR) shows 27,096 jobs have been shed and 1,023 stores have been earmarked for closure so far in 2021--about 850 jobs lost each working day since the start of the year.#
Professor Joshua Bamfield of the CRR warned ‘these losses will be the tip of the iceberg’ without an extension of the current business rates holiday and moratorium on evictions by landlords, according to British media reports.
Retail bosses have called on Chancellor Rishi Sunak to extend the relief in the budget, to be revealed on March 3.
Fibre2Fashion News Desk (DS)
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