Latest figures from the Centre for Retail Research figures have shown that almost 190,000 jobs have been lost in the retail sector since shops were forced to close under the first coronavirus lockdown in March 2020.
The analysis shows that between 23rd March last year and 31st March this year, that 188,685 retail jobs have vanished. Of these, 83,725 were due to administrations, while 11,986 jobs were cut during CVA processes and 92,974 jobs were lost through rationalisation programmes.
The report also reveals that the UK has seen 15,153 store closures amid the pandemic.
Supporting data from real estate adviser Altus Group showed that up to 401,690 shops remain closed under the latest restrictions. With retail bosses voicing concern that a return of business rates payments could see further closures
Robert Hayton, President of Property Tax at Altus, said Come 1st July, large retailers in England will effectively be returned to full business rates liabilities, calculated by reference to rents being paid six years ago, bearing no resemblance to the here and now, with the fundamental right of appeal to seek valuation adjustments being retrospectively removed.”