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CRR Data Shows Job Losses & Store Closures Continue To Rise

Baloncici - retail-to-let-istock1051698118

The Centre for Retail Research has published data on job losses and store closures in the retail sector to the end of April this year.

Outcomes for 2021 (to end-April 2021)

Retailing 2021 (to end-April)

Administration

CVAs

Rationalisation

Totals

specific redundancies & rationalisationNANA2,0863,236
multiples: stores closed1,103 1491,252
multiples: jobs lost17,387 8,64426,031
self-employed/concessions in larger shops2,482 4352,917
independent store closures380 6801,060
independent job losses2,280 2,7205,000
Total Job losses22,149 NA9,07931,228
Total store closures1,483NA1491,632

* Correct to 30 April 2021, based on our current information.

Data collection for Independent store closures and job losses is only partly completed (as at end-April).The information, above, represents data received so far.

Total job losses stand at more than 31,000, while store closures have exceeded 1,600. 

For comparison, 2020 full-year figures show job losses of more than 182,500, along with total store closures of more than 16,000.

Outcomes for 2020 (to 31 December)

Retailing 2020 

Administration

CVAs

Rationalisation

Totals

specific redundancies & rationalisationNANA14,75514,755
multiples: stores closed20415332,9755,549
multiples: jobs lost53,36411,49644,521109,381
self-employed/concessions in larger shops8,7154908,24017,445
independent store closures4,189-6,30710,496
independent job losses12,286-28,69740,983
Total Job losses74,36511,98696,213182,564
Total store closures6,2305339,28216,045

* Correct to 31 December 2020.

In February, Professor Joshua Bamfield of the Centre for Retail Research revealed that retail job losses had reached 850 a day and warned that, “These losses will be the ‘tip of the iceberg’", ahead of the end of the moratorium on evictions and business rates holiday on 31st March 2021.

Source : Insight DIY Team with data from Centre for Retail Research

Image : Baloncici - istock 1051698118

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04 May 2021

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