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CRR: 2024 Retail Store Closures And Job Losses
The Centre for Retail Research has published data pertaining to retail job losses and store closures for the period January, February and March 2024.
The update follows the organisation's 2023 summary which revealed that 10,494 stores have closed and 119,405 retail jobs were lost in 2023.
According to the data, 785 stores have closed and 16,170 retail jobs were lost during January, February and March 2024.
All data tables are from the Centre for Retail Research.
Table 1 - Outcomes for 2024 *
Retailing 2024 (end March) | Administration | CVAs | Rationalisation | Totals |
| specific redundancies & rationalisation | 714 | NA | 1,820 | 2,534 |
| multiples: stores closed | 174 | 54 | 228 | |
| multiples: jobs lost | 4,213 | 6,049 | 10,262 | |
| self-employed/concessions in larger shops | 231 | 428 | 659 | |
| independent store closures | 387 | 170 | 557 | |
| independent job losses | 1,780 | 935 | 2,715 | |
| Total Job Losses | 6,938 | 9,232 | 16,170 | |
| Total Store Closures | 561 | 224 | 785 |
Table 2 - Outcomes for 2023*
Retailing 2023 (12 months) | Administration | CVAs | Rationalisation | Totals |
| specific redundancies & rationalisation | NA | NA | 30,290 | 30,290 |
| multiples: stores closed | 790 | 1,911 | 2,701 | |
| multiples: jobs lost | 20,139 | 25,289 | 45,428 | |
| self-employed/concessions in larger shops | 3,450 | 5,847 | 9,297 | |
| independent store closures | 2,931 | 4,862 | 7,793 | |
| independent job losses | 13,483 | 20,907 | 34,390 | |
| Total Job Losses | 37,072 | 82,333 | 119,405 | |
| Total Store Closures | 3,721 | 6,773 | 10,494 |
Table 3 - Outcomes for 2022*
Retailing 2022 (12 months) | Administration | CVAs | Rationalisation | Totals |
| specific redundancies & rationalisation | NA | NA | 13,240 | 13,240 |
| multiples: stores closed | 549 | 5,506 | 6,055 | |
| multiples: jobs lost | 6,732 | 69,977 | 76,709 | |
| self-employed/concessions in larger shops | 1,678 | 6,106 | 7,784 | |
| independent store closures | 4,960 | 6,130 | 11,090 | |
| independent job losses | 23,504 | 30,237 | 53,741 | |
| Total Job losses | 31,914 | 119,560 | 151,474 | |
| Total store closures | 5,509 | 11,636 | 17,145 |
Table 4 - Outcomes for 2021
Retailing 2021 (full year) | Administration | CVAs | Rationalisation | Totals |
| specific redundancies & rationalisation | NA | NA | 9,118 | 9,118 |
| multiples: stores closed | 1,251 | 324 | 942 | 2,517 |
| multiples: jobs lost | 24,179 | 2,851 | 40,843 | 67,873 |
| self-employed/concessions in larger shops | 3,873 | 107 | 3,982 | 7,962 |
| independent store closures | 3,760 | 5,041 | 8,801 | |
| independent job losses | 11,882 | 14,019 | 25,901 | |
| Total Job losses | 39,934 | 2,958 | 62,835 | 105,727 |
| Total store closures | 5,011 | 324 | 6,124 | 11,459 |
* based on our current information.
Table 5 - Outcomes for 2020 (to 31 December).
Retailing 2020 | Administration | CVAs | Rationalisation | Totals |
| specific redundancies & rationalisation | NA | NA | 14,755 | 14,755 |
| multiples: stores closed | 2041 | 533 | 2,975 | 5,549 |
| multiples: jobs lost | 53,364 | 11,496 | 44,521 | 109,381 |
| self-employed/concessions in larger shops | 8,715 | 490 | 8,240 | 17,445 |
| independent store closures | 4,189 | - | 6,307 | 10,496 |
| independent job losses | 12,286 | - | 28,697 | 40,983 |
| Total Job losses | 74,365 | 11,986 | 96,213 | 182,564 |
| Total store closures | 6,230 | 533 | 9,282 | 16,045 |
* Correct to 31 December 2020.
Table 6 - Outcomes for 2019 (12 months)
| Retailing 2019 | Administration | CVAs | Rationalisation | Totals |
specific redundancies & rationalisation | NA | NA | 9,593 | 9,593 |
multiples: stores closed | 684 | 313 | 4,404 | 5,901 |
| multiples: jobs lost | 9,060 | 24,042 | 43,164 | 72,266 |
| self-employed/concessions in larger shops | 5,873 | 2,420 | 5,991 | 14,284 |
| independent store closures | 5,720 | - | 4,452 | 10,172 |
| independent job losses | 23,171 | - | 19,816 | 42,985 |
| Total Job losses | 38,103 | 26,462 | 78,563 | 143,128 |
| Total store closures | 6,404 | 313 | 9,356 | 16,073 |
Table 7 - Outcomes for 2018 (12 months)
| Retailing 2018 | Administration | CVAs | Rationalisation | Totals |
specific redundancies & rationalisation | NA | NA | 19,112 | 19,112 |
multiples: stores closed | 1,631 | 272 | 1,400 | 3,303 |
multiples: jobs lost (store closure) | 22,671 | 3,900 | 11,862 | 38,433 |
self-employed/concessions in larger shops | 1,300 | 2,200 | 1,350 | 4,850 |
independent closures | 9,820 | 1,460 | 11,280 | |
independent job losses | 48,314 | 6,716 | 55,030 | |
Total job losses | 72,285 | 6,100 | 39,040 | 117,425 |
Total store closures | 11,451 | 272 | 2,860 | 14,583 |
Source : All tables and data from Centre for Retail Research
Image : Baloncici / istockphoto.com (1051698118)
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