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Retail job losses and store closures in the UK December 2020

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

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Source

Release date

November 2020

Region

United Kingdom

Survey time period

December 2020

Supplementary notes

Estimations made on December 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."
CVA is defined by the source s follows: "CVAs – Company Voluntary Arrangements – a different form of insolvency intended normally to give a business time to prepare a recovery business plan, which needs the agreement of its creditors. The plans often involve store closures and job losses as part of relaunching the business."

Missing data points for administrations and CVAs were not provided by the source.

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