Up to 85,000 Retail Jobs Lost This Year

According to a report in the Observer, the first nine months of 2018 saw the loss of around 85,000 retail jobs.

Almost 1,000 retail businesses went into administration between January and September, according to the publication, which states it has seen documents confirming the numbers.

Retailers including House of Fraser, Evans Cycles and Poundworld were among the companies that fell into administration and 26 other retailers closed stores or reduced rents using a Company Voluntary Arrangement (CVA) during the period. 

Local Data Company figures indicate that the number of empty retail premises increased by over 4,400 in the first half of the year.

The Observer reported that ONS statistics show losses of 80,000 retail jobs in the first half of the year, and estimates that this figure has increased to around 85,000 in the months since.

Source : Insight DIY Team

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