Retail job losses and store closures in the UK March 2020

In 2020, the total number of job losses in the retail sector in the United Kingdom (UK) reached 21,519 as of March 31, 2020. According to a forecast, excluding the temporary store closures caused by the impact of Coronavirus (Covid-19) outbreak, there were 1,859 retail store closures, 756 of which were through administration. The remaining 1,103 were a result of "rationalisation" processes, which the source defined as "tore closures or job losses occurring either as a regular aspect of business or a special cost-cutting programme."

Number of job losses and store closures in the retail sector in the United Kingdom (UK) as of March, 2020*

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Source

Release date

March 2020

Region

United Kingdom

Survey time period

March 31, 2020

Supplementary notes

* Forecast made on March 31. Retail job losses and store closures in 2020, correct to March 31, 2020. Excludes temporary closures due to the Coronavirus lockdown.

** The source defines rationalisation as follows: "our term for store closures or job losses occurring either as a regular aspect of business or a special cost-cutting programme. Retailers may close stores or warehouses, reorganise their management structure in stores or the head office or propose cuts in every department in order to reduce losses and cut costs, but where there is no recourse to administration or CVAs."

*** Data not collected.

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