Nearly 150,000 High Street Jobs Lost This Year

Research from the Centre for Retail Research (CRR) shows that 148,132 retail and hospitality jobs have been lost on British high streets in 2018.

According to research, around 20,000 high street properties closed in 2018 and experts believe that this scenario will repeat itself in 2019 without government action.

CRR data reveals that approximately 94,200 jobs were lost as a result of administration and liquidation activity and nearly 30,000 jobs were lost as a result of CVAs.

Company restructures resulted in the loss of around 24,200 jobs and 19,631 outlet closures.

Professor Joshua Bamfield of CRR, said: “Each one of these figures is a personal tragedy for the people involved and the community where the shops are located,” 

“While Parliament is obsessed with Brexit, business rates and low growth are killing the high street.

“We feel that 2019 is going to be a repeat of these dire figures unless or until the government takes action to provide a level playing field for both online retailers and the high street.”

Source : Insight DIY Team

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