UK DIY News

CRR Data Shows Job Losses & Store Closures Continue To Rise

Baloncici - retail-to-let-istock1051698118

The Centre for Retail Research has published data on job losses and store closures in the retail sector to the end of April this year.

Outcomes for 2021 (to end-April 2021)

Retailing 2021 (to end-April)	Administration	CVAs	Rationalisation	Totals
specific redundancies & rationalisation	NA	NA	2,086	3,236
multiples: stores closed	1,103		149	1,252
multiples: jobs lost	17,387		8,644	26,031
self-employed/concessions in larger shops	2,482		435	2,917
independent store closures	380		680	1,060
independent job losses	2,280		2,720	5,000
Total Job losses	22,149	NA	9,079	31,228
Total store closures	1,483	NA	149	1,632

* Correct to 30 April 2021, based on our current information.

Data collection for Independent store closures and job losses is only partly completed (as at end-April).The information, above, represents data received so far.

Total job losses stand at more than 31,000, while store closures have exceeded 1,600.

For comparison, 2020 full-year figures show job losses of more than 182,500, along with total store closures of more than 16,000.

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.

In February, Professor Joshua Bamfield of the Centre for Retail Research revealed that retail job losses had reached 850 a day and warned that, “These losses will be the ‘tip of the iceberg’", ahead of the end of the moratorium on evictions and business rates holiday on 31st March 2021.

Source : Insight DIY Team with data from Centre for Retail Research

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04 May 2021