Almost 190,000 jobs have been lost in the retail bloodbath since shops were first forced to shut their doors a year ago, new research shows.
New data from 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 survey, carried out by the centre on behalf of the PA news agency, comes 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 shutting their doors for good.
The figures revealed that 83,725 jobs lost in the period were due to administrations, including major collapses by Debenhams and Sir Philip Green’s Arcadia Group.
Helen Dickinson, chief executive of the British Retail Consortium, has warned that unless the Government provides more support there will be further administrations in the months to come.
She said the Government “must provide those firms which have been hardest hit by the pandemic with the necessary support.
“This means extending the moratorium on aggressive debt enforcement, removing EU state aid caps on support grants, and providing targeted business rates support to those companies worst affected by the pandemic.”
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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 海角视频, 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, 海角视频 president of property tax at Altus, warned that the current business rates regime could bring further devastation.
He 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.”
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The research comes as Business Live publisher Reach launches a £1m support package for businesses to help them get back in touch with customers as the coronavirus lockdown begins to lift.
The #BackForGood campaign is the biggest regional editorial and commercial initiative of its kind to date being offered to thousands of businesses by the 海角视频’s largest news publisher.
Reach is offering the first 10,000 companies who supply their details to the new #BackforGood directory a free InYourArea business membership for one year worth a total of £1m.