More high street job cuts in the new year

BRITAIN’S struggling retailers have axed nearly 150,000 jobs this year, with experts predicting fresh pain in 2019, research for the Press Association has shown.

End-of-year figures compiled by the Centre for Retail Research show that 148,132 jobs have been wiped out as almost 20,000 shops and restaurants closed their doors.

Professor Joshua Bamfield of the Centre for Retail Research said: “While Parliament is obsessed with Brexit, business rates and low growth are killing the high street.

“We feel that 2019 is going to be a repeat of these dire figures unless or until the Government takes action to provide a level playing field for both online retailers and the high street.”

Real estate adviser Altus Group said rising business rates will also put extra pressure on the high street, forcing firms to pay an extra £127.88million on 50,000 retail premises.

Several retailers including Asda, House of Fraser and Evans Cycles are already expected to cut jobs in 2019.

In 2018, 94,256 jobs were lost to administrations and liquidations.

In February, Toys R Us and Maplin went into administration on the same day, resulting in the eventual loss of a combined total of over 4,500 jobs.

Poundworld’s collapse in June was the biggest casualty of the year, putting 5,100 people out of a job.