U.K.’s high streets have been hit with the hardest times in a quarter of a century with the closure of 16,000 stores this year and 140,000 jobs lost, according to reports.
According to a study by the Center for Retail Research (CRR), More than 2,750 jobs were lost every week — about 61 every working day. The study also said that without further government intervention, job losses in retail could hit 171,000 next year.
“These problems are felt by most businesses operating from physical stores in high streets or shopping malls,” said Prof. Joshua Bamfield, director of the CRR. “The low growth in consumer spending since 2015 has meant that the growth in online sales has come at the expense of the high