Job Losses
This coverage examines job losses within the UK retail sector, investigating store closures, restructuring initiatives, supplier impact, and workforce reductions. Reporting highlights trends in employment shifts, cost strategies, and executive decisions — offering insight for HR leaders, operations managers, and business executives dealing with staffing challenges and strategic planning.
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Oct- 2018 -1 OctoberHigh Street
Business rates could be changed to help retailers, says Greg Clark
Secretary of state for business Greg Clark has admitted that business rates could be changed in order to help high street retailers. Clark told a fringe event at the Conservative party conference that a change in business rates would be “one way” of recognising the role that high street retailers…
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Sep- 2018 -13 SeptemberAnalysis
How Wesfarmers’ takeover strategy almost sent Homebase ‘down under’
There are few home comforts for Homebase right now. The DIY chain confirmed on August 31 that it will close a further 42 stores later this year, resulting in 1,500 job losses. The home improvement and garden retailer has already shut 16 stores this year, following its acquisition by restructuring…
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4 SeptemberHigh Street
Retail sales growth slows during August
UK retail sales growth continued to slow during August as the summer boost comes to an end, according to figures from the BRC-KPMG Retail Sales Monitor. In August, UK retail sales increased by 0.2% on a like-for-like basis compared with the same period the previous year. On a total basis,…
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Aug- 2018 -21 AugustHigh Street
Office Outlet announces CVA proposal
Stationery retailer Office Outlet has announced a company voluntary arrangement (CVA) proposal to restructure its UK store estate as part of its ongoing turnaround strategy. The retail chain formerly known as Staples has spent the last two years performing an operational restructuring which it said has “significantly improved” its store…
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14 AugustEconomy
High street job losses ‘cost British economy £1.5bn’
New research has found that high street job losses have cost the British economy £1.5bn, as the number of lost jobs exceeds 30,000. Figures from the New Economics Foundation (NEF) include those facing imminent redundancy alongside those who have already lost their jobs, adding up to £1.5bn in lost GDP.…
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Jul- 2018 -17 JulyEconomy
Bad debt owed to UK retailers rises to £53.6m in three months
There has been a 2464.5% increase in bad debt owed to UK retailers in the last three months, according to credit report company Creditsafe’s quarterly Watchdog Report. This has been a rise of more than £51.5m, bringing the total to £53.6m and the firm has said that the debt is…
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12 JulyHigh Street
Usdaw calls for ‘proper’ staff representation amid M&S store closures threat
Shopworkers’ trade union Usdaw has renewed its call for recognition as the union for M&S staff, after the company’s chairman “refused to rule out further store closures and job losses”. The group urged M&S management to abandon its “long-held resistance” to allowing Usdaw to represent the staff, and…
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4 JulyEconomy
BRC calls for two-year freeze on business rates
The British Retail Consortium (BRC) has asked the government to consider freezing business rates for two years to ease the pressure on retailers. By proposing a two-year freeze on increases, the BRC said it would give time for the government and industry to develop a proposal for an updated taxation…
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2 JulyHigh Street
Retail job losses make up almost half of 50,000 lost this year
Almost half of the 50,000 jobs lost in the UK this year have been in the retail sector, new figures suggest. Data from the Press Association shows that around 50,000 have seen their jobs cut or have had their positions threatened during the first half of the year, while additional…
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Jun- 2018 -26 JuneEconomy
EXCLUSIVE: Mattressman accounts ‘disaster’
Mattressman has revealed that it entered a Company Voluntary Agreement (CVA) due to “inaccurate management accounts”, which led the company to believe it was profitable in Q1 and Q2 of 2017, Retail Sector can reveal. However in March this year it was found that it was losing money during that…
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