UK High Street sheds over 140,000 jobs - CRR

UK high streets lost over 140,000 jobs in 2019 amid mass store closings among retailers, revealed the latest study from the Centre for Retail Research.

In excess of 2,750 jobs were lost during each week over the course of the year, a detailed analysis published on Monday by the business lobby group showed.

The analysis also revealed that the situation was likely to worsen in 2020 absent government intervention. Westminster could reduce the high business rates that were choking retailers firms, adding to the pressures to close stores.

Prof Joshua Bamfield, the CRR’s director, said the retail sector was in crisis owing to high costs, low levels of profitability and sales moving online.

“These problems are felt by most businesses operating from physical stores in high streets or shopping malls,” Bamfield said. “The low growth in consumer spending since 2015 has meant that the growth in online sales has come at the expense of the high street.”

According to the research, 38,100 jobs were lost due to retail chains going bust, 26,500 because of company CVAs and insolvency procedures and another 78,600 jobs were shed as large and small retail shops closed for good.

The CRR also calculated that 16,073 shops across the UK had closed in 2019, or about 61 every working day, up from the 14,583 shops that closed in 2018.

Alan Lockey, who heads the thinktank, said: “The carnage on the high street has hollowed out many jobs traditionally held by women, but areas of growth related to e-commerce, such as van driving, are going more to men. This is having a profound effect on individuals, families and society," he added.

“The employment figures show that over the last decade the economy has been good at creating jobs but low skilled workers in the retail sector have been pushed from pillar to post. The alternative jobs they are getting are often low paid and do not provide good security, leading to working poverty."