Government urged to save high street with 50, 000 jobs lost in 2018 alone
Ailing high street retailers have been forced to let go almost 50, 000 employees in 2018 alone, new research has revealed.
According to data compiled by the Press Association, almost 50, 000 high street workers, from well-known chains such as Maplin and Toys R Us to smaller businesses struggling to stay afloat, have been made redundant or had their role put under threat.
In June 2018 alone, the announced closure of dozens of House of Fraser branches saw 6, 000 jobs put at risk, while Poundworld’s administration threatened 5, 100 jobs.
Read more about the high street’s struggles:
In response to the findings, trade union organisation the TUC urged the government to up its game? and keep the high street trading.
Frances O’Grady, general secretary of the TUC, said low consumer spending power had contributed to the loss of high street prosperity.
“Retail depends on customers having money in their pockets. One reason why some shops are struggling is because wage growth has been very weak, she said.
“Government needs to up its game, boost the economy and invest in great jobs that people can live on.”
High street jobs lost or at risk
House of Fraser: 6, 000
Jamie’s Italian:£200 jobs
Spiraling business rates have also been attributed to high street struggles. Following last year’s revaluation, the average business rates bill for a department store in England and Wales increased by 26.6% to 717, 952, according to ratings agency Altus Group.
Praseeda Nair is the editorial director of Business Advice, and its sister publication for growing businesses, Real Business. She's an impassioned advocate for women in leadership, and likes to profile business owners, advisors and experts in the field of entrepreneurship and management.
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