Retail bloodbath sees 190,000 jobs lost in past 12 months

ALMOST 190,000 jobs have been lost in the retail bloodbath since shops were first forced to shut their doors a year ago, according to new figures.

The Centre for Retail Research has revealed that 188,685 retail jobs have vanished between the start of the first lockdown on March 23 2020 and March 31 this year.

The figures come less than two weeks before non-essential shops reopen their doors to customers in England after the lengthy third lockdown.

However, shoppers will visit high streets and town centres that have been hit hard by the pandemic, with thousands of stores having shut their doors for good.

The figures revealed that 83,725 jobs lost in the period were a result of administrations, including major collapses by Debenhams

and Sir Philip Green’s Arcadia Group.

Meanwhile, around 11,986 jobs were cut during Company Voluntary Arrangement (CVA) restructuring processes.

Another 92,974 jobs were axed through rationalisation programmes, which included supermarkets Sainsbury’s and Asda cutting thousands of roles.

The devastating impact of the pandemic resulted in 15,153 store closures in shopping destinations across the UK, the figures also revealed.

According to real estate adviser Altus Group, up to 401,690 shops are currently shuttered around the country and could reopen in the next stage of the Prime Minister’s road map out of lockdown.

Retail bosses have raised concerns that the high street will still be very challenging for retailers despite the easing of restrictions, as business rates payments return for many.

Robert Hayton, UK president of property tax at Altus, warned that the current business rates regime could bring further devastation.

Mr Hayton said: “Come July 1, 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.”

The news comes after it was revealed clothes shoppers will be able to use fitting rooms again after more than a year when nonessential shops reopen on April 12.

The Government has released new guidance on fitting rooms after advising shops after the first lockdown to keep changing rooms closed “wherever possible” unless essential.