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COVID-19: insolvency of retail and leisure units after March 2020 restrictions UK

To contain the spread of the coronavirus (COVID-19), on March 23, 2020, a number of restrictions were introduced in the United Kingdom (UK). People were urged to stay and work from home. Numerous retailers deemed non-essential had to temporarily suspend their operations. The disruption of activity is a serious threat to the survival of businesses in the retail sector and thus, with a potential knock-on effect on the commercial real estate sector. The asset class most affected was high street retail and leisure, with 42 percent of the units having filed for administration following the lockdown restrictions. Only 19 percent of high street units were classed as essential and could stay open as the restrictions were imposed.

Distribution of retail and leisure businesses filing for administration following the coronavirus (COVID-19) lockdown measures in the United Kingdom (UK) after March 23, 2020, by asset class

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Source

Release date

May 2020

Region

United Kingdom

Survey time period

March 23 to April 11, 2020

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Statistics on "Coronavirus: impact on the UK economy"

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