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Gloucestershire Business News

Retail job losses face further spike

Almost 180,000 retail jobs were lost in the UK last year - and there could be worse to come according to one forecast.

Analysis by the Centre for Retail Research said 2020's job loss figures were up almost a quarter on the previous year and the most for more than 25 years.

And the centre said up to 200,000 more retail jobs could be under threat in the next 12 months.

Centre for Retail Research director Professor Joshua Bamfield said the forecast was based on prolonged closures during the pandemic and mounting rent arrears.

He told the BBC: "The longer-term effects of the greater use by shopper of all kinds of online retailing is likely to be hugely damaging for physical stores."

Major job losses are already on the cards with around 25,000 at risk with Debenhams and the Arcadia Group among major high street names collapsing into administration.

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