Nearly 1,90,000 retail jobs lost in the UK in last 1 year

It’s been a year since the world first entered into lockdown! And things haven’t changed much as store closures and lockdowns are still happening, though vaccine rollout in many parts of the globe has definitely given something to cheer about for businesses.

As per the data released by Centre for Retail Research (CRR), 1,88,685 jobs have been lost in the UK’s retail sector between 23 March 2020 and 31 March 2021.

Of these, 83.725 jobs in the country have been lost owing to many retailers falling into administration – including bigwigs like Arcadia Group, Edinburgh Woollen Mill and Debenhams.

Notably, the numbers released by CRR come less than a week before all non-essential stores are to reopen in England on 12 April (Monday).

The data also revealed that around 11,986 jobs were hit during the CVA restructuring process, while another 92,974 jobs were lost owing to rationalisation programmes.

Besides, 15,153 stores were closed in shopping destinations across the country during the period.

Here it is important to note that in the last 3 months of 2020, number of retail jobs slumped by as much as 67,000 in the UK – lowest since 1999. The numbers could increase if stores do not reopen on 12 April.

Also Read: UK retail jobs drop by 67,000 in last 3 months of 2020; lowest since 1999