How much more can High Street take? Shops will lose £20m a DAY
SCOTLAND’S retailers are facing a devastating new lockdown they fearcould cost them £135 millionaweek– or £20 million a day.
When the clockstrikes midnight andBoxing Day begins, all non-essential shops, restaurants and cafes will have toclose their doors for another three weeks, under the measures announced by Nicola Sturgeonyesterday.
Instead of the usual crowds flocking tothe sales, the highstreets and shopping centres will once again bedeserted.
The move is a further blow to busi - nesses which have already missed out on months of valuable tradingtime during the pandemic.
In many parts of the Central Belt, non-essential shops have only been openagain since December11, when the tightest measures were eased.
Lastnight, the First Minister said: ‘Tolimit as far as we can the risk of thisstrain spreading further than ithas with in Scotland, we intend to apply Level4 measures to all of mainland Scotland for a period ofthree weeks from oneminute aftermidnight on Boxing Day.’
Ross Wilkie, director of retailagents Colliers International Scotland, said some businesses are in an ‘already precarious position’ and this move ‘maycause restructuring’ within firms.
David Lonsdale, director o fthe Scottish Retail Consortium, said: ‘TheGovernment will need to financial support to help these busi-nesses get back on an even keel –a firman dearly decisionto extend business-rates relief into 2021-22 would be theplace to start.
‘We recognise that Government has difficult decisions to make and the situ - ation with the pandemic is fast-moving, but this hugely disappointing news rounds off a torrid year forScottish retailand is a further hammer blow to non-food stores who have already borneso much duringthis crisis.
‘The consequences of this move could be severe. This decision comes only a week after the end of thelocal lock - downs in West Central Scotland and slapbang in the middle of peak trading, which so manyare depending onto power their recovery and tide the moverthe leaner winter period.
‘Faced with this news – and the pros - pect of losing £135 million each week in revenues during thelockdown–many stores will be inserious difficulty.’
Last night, Peter Beagley, director of the Braehead Shopping Centre in Renfrewshire, said: ‘We are bound bythe Scottish Government’ scoronavirus restrictions. Although shoppers will be disappointed, only essentialstores will be open in Braehead while Renfrews hireis in Level 4 of these restrictions.
‘Braehead plays an important role in the local community and we are making-all necessary plans thatfollow Govern - ment guidelines to provide access through the centre for vital services such assupermarkets and pharmacies.’
The announcement comes after Glas - gowand Edinburgh stores were particularly busy yesterday. Thethousands of customers are estimated to have splashed out £130 million during the lastshoppingSaturday before Christmas.
Many big-name shops slashed prices and extended opening hours in an effortto entice customers afterweeks of forced closures.