Worst year for high street job losses
About 10 Months, 3 Weeks, 6 Days, 3 Hours, 28 Minutes ago.
Last year was the worst for the High Street in more than 25 years as the coronavirus accelerated the move towards online shopping, analysts say.
Nearly 180,000 retail jobs were lost in the UK in 2020, up by almost a quarter on the previous year, according to the Centre for Retail Research (CRR).
It warned there will be more pain for the sector in 2021 as retailers face a cash flow crisis and rent payments.
It has predicted up to 200,000 more retail jobs will be at risk in 2021.
Professor Joshua Bamfield, a director at the Centre for Retail Research, said its forecast was based on "the cumulative effects of months of closure and its impact upon cash flow and rent arrears that will be payable when the moratorium ends.
"Whilst the longer-term effects of the greater use by shoppers of all kinds of online retailing is likely to be hugely damaging for physical stores," he added.