High St crisis claims 93,000 jobs in a year

A TOTAL of 93,000 retail jobs have been lost in the past year amid a crunch on the high street.

There have been a string of high-profile store closures as shoppers desert town centres and flock to web titans such as Amazon instead.

Analysis by the British Retail Consortium shows there were 3m people working in retail in september, the most recent month for which figures are available, down from 3.1m a year earlier.

household names Marks & spencer, Debenhams and house of Fraser have all announced store closures, while others such as Maplin, Toys R us and Poundworld went bust this year.

Tough trading conditions triggered by the rise of the internet and a temporary squeeze on living standards after the Brexit vote are behind the crisis. And campaigners have warned that sky-high business rates make it even worse, by forcing companies to spend vast sums on tax for shops which are struggling to turn a profit.

Jessops chairman and Dragons’ Den star Peter Jones said the Government needed to do more to ease the burden on retailers.

‘sadly we’ve spent so long looking at and focusing on Brexit, we’ve really tiptoed around trying to support the high street,’ he said.

‘if the Government doesn’t take action we’re going to see many more brands on the high street dissipate like an Alkaseltzer in a swimming pool.’

sports Direct tycoon Mike Ashley has called for a tax on internet shopping to help revive the high street’s fortunes. in an extraordinary exchange with MPs this month, Ashley said the ‘internet is killing the high street’.

Meanwhile Ashley, 54, is embroiled in a public battle with Debenhams in which he has a near 30pc stake, after the department store spurned his offer of a £40m interest-free loan in return for an additional 10pc shareholding.

Ashley, has suggested Debenhams has little chance of survival after it lost almost £500m in the year to september, the biggest full-year loss in its 240 years on the high street.

But Debenhams chairman sir ian Cheshire hit back, challenging Ashley to put his money where his mouth is and make a formal takeover bid.

Cheshire said: ‘if you want to make an offer for the other 70pc you don’t own, then you’re free at any time.’