UK high streets have shed more than (******************************************************************************************************, 06 jobs this year asstore closuresand retail failures made 2019 one of the most challenging years in a generation.
More than 2, jobs were lost every week, according to a detailed analysis by the center 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.
“These problems are felt by most businesses operating from physical stores in high streets or shopping malls,” Bamfield said. “The low growth in consumer spending since 2018 has meant that the growth in online sales has come at the expense of the high street. ”
Thousands of high street jobs have been lost this year as a result of high profile retail administrations and thousands more are at risk as Mothercare, Debenhams and Forever prepare for closures. Here are some of the key industry names that have been affected.
Mothercare: Has(storesand2, UK retail staffas its British arm prepares to go into administration.
Regis / Supercuts: Had) (salons) and1, (staffwhen it wentinto administration in October.
Bonmarché: Had) (storesand2, (employees) when itwent into administration inOctober. It is still trading as it seeks a buyer.
Watt Brothers:The Scottish department chain had storesand****************************************************************** (employeeswhen itwent into administrationin October. All the stores closed and the majority of jobs have gone.
Links of London:With (storesand(staff) , the jewelery chainwent into administrationon 8 October but its sites are still trading.
Forever 20: Hadthree storesand about318 employeesin the UK when itwent into administrationin September. Stores are staying open in order to clear stock.
Albemarle & Bond:Suddenly shutall its(storesin September with the loss of about529 jobs, even though it did not call in administrators. It sold itspledge booksto rival H&T in September.
Karen Millen and Coast:Had(storesand200 concessions, employing1,people, when it went into administration in August. All sites were closed and the vast majority of staff made redundant after thebrands were bought out by online specialist Boohoo.com.
Jack Wills: Had about) (storesand1, 750 staffin the UK when went into administration in August.Bought by Sports Directand98 storesare still trading in the UK and Ireland.
Spudulike:Closed all(storeswith the loss of about750 jobswhen itwent into administration in August
Bathstore: Had) 132 storesand**************************************************************** staffwhen itwent into administrationin June. Homebase bought(storessaving170 jobsand the brand now trades from(stores.
Select: Had) storesand2, (employees) ************************ when the fashion retailer went into administrationin May. In June administrators at advisory firm Quantuma carried out a CVA closing(storeswith the loss of about220 jobs.
Debenhams: Had) department storesand more than******************************************************************************************************************, (employeeswhen went into administrationin April. No store closed immediately and the chain is now owned by its lenders but two will close before Christmas and anotherin Januarywhen the group completes a rescue restructure expected to result in the loss of1, 290 jobs.
Pretty Green: Had) ****************************************************************************************************************************************** storesand about************************************************************************** (employeeswhen Liam Gallagher’s fashion outlet went into administrationin March. All but one store and concessions closed with(jobs lostbut) (savedas the brand wasbought by JD Sportsin April.
Office Outlet:Allstoreshave closedwith the loss of1, 180 jobsAfter the stationery retailer went into administration in March.
LK Bennett: Had) ************************************************************************************************************************* (storesand (employeeswhen itwent into administrationin March. The brand was bought by its Chinese franchise partner, Rebecca Feng,saving(stores) ************, all the group’s concessions andjobs. But more than(jobslost with the closure of16 stores.
Patisserie Valerie: Had) ******************************************************************************************** (cafes) employing nearly3, 06 peoplewhen an accounting scandal prompted the chain tocall in administratorsin January. Aboutof the group’s ******************************************************************************************** storesare closed immediately with the loss ofjobs. About2, 05 jobswere saved when about(Patisserie Valerie cafes) ************ were rescued by Causeway Capital, more than of which have since closed. Philpotts sandwich shops were bought by AF Blakemore & Son. and four Baker & Spice cafes a were bought by the Department of Coffee & Social Affairs.Sarah Butler
(**************************************************************
(******************************************
The CRR said (***************************************************************************************************************************, of the jobs lost this year were down to retail chains going bust with Karen Millen and Coast
among s high profile casualties. Another (********************************************************************************************************************************, ********************************************************************************** (roles were shed through company voluntary arrangements (CVAs), a controversial insolvency procedure that has been used by the likes of Sir Philip Green’s Arcadiagroup and Debenhams to shed loss-making stores.
Another (****************************************************************************************************************, 728 jobs were axed through cost-cutting programs by large retailers or small shops simply shutting for good. Marks & Spenceris among the big names closing stores while House of Fraser, which is part of Mike Ashley’s Frasers Group, has also been shutting outlets. A total of 161, 116 jobs were lost in (******************************************************************, according to CRR’s calculations, up by more than a fifth on (‘s) ******************************************************************************************************, .
The CRR also calculated that 16, 94 shops closed around the UK in (******************************************************, or around 61 every working day. That was an increase on the 14, shops which closed in 2018.
A separate study looking at how the UK labor market had changed over the past decade said the rise of online shopping had eliminated 300, “traditional” high street roles. Eight out of 10 of these entry-level retail jobs – positions like sales assistant and checkout operator – were held by women, according to the RSA Future Work Center.
The thinktank is part of the Royal Society for the encouragement of Arts, Manufactures and Commerce, the charity run by Matthew Taylor who authored agig economy review for Theresa Maywhen she was prime minister.
Alan Lockey, who heads the thinktank, said: “The carnage on the high street has hollowed out many jobs traditionally held by women, but areas of growth related to e-commerce, such as van driving, are going more to men. This is having a profound effect on individuals, families and society. ”
Today one in every five pounds spent at the shops is online – more than double the level at the start of the decade. The resulting shift in labor markets are stark. There are now 166, 04 fewer check-out staff, shelf fillers and sales assistants than at the start of the s, according to RSA’s analysis of official employment data, while the pool of bank and post office clerks has shrunk by (******************************************************************************************************************, ********************************************************************************************************************************************************** as branches closed. By comparison there are (*************************************************************************************************************, 04 more van drivers and 170, more administration roles.
Lockey said the decline of the high street was the most dramatic factor affecting the UK’s jobs landscape, even though austerity, which had eliminated (*********************************************************************************************************, ************************************************************************************************************************************************ public sector administrators, also loomed large.
(********************************************** Sign up to the daily Business Today by email or follow Guardian Business on Twitter at @BusinessDesk Despite the reckoning taking place the retail sector remains the UK’s largest private sector employer with a workforce of around 3 million. Its decline contrasts with a wider picture showing
“The employment figures show that over the last decade the economy has been good at creating jobs but low skilled workers in the retail sector have been pushed from pillar to post. The alternative jobs they are getting are often low paid and do not provide good security, leading to working poverty, ”Lockey added.
The important Christmas trading period appears to have brought little respite for struggling retail chains. Trading during November and December was marred by heavy discounting as stores sought to tempt out shoppers put off by the uncertainty around Brexit and the 14 December general election. The post-Christmas sales got off to a disappointing start too, attracting smaller crowds than in previous years.
**************************************************************************(Read More) ************************************************ (******************************************************
GIPHY App Key not set. Please check settings