Not even Christmas shoppers on Oxford Street could lift the gloom that has hung over retailers all year Dominic Lipinski/PAThe growing pressure on bricks-and-mortar retailers has caused the biggest loss of jobs on the high street in 25 years, research suggests. In total 143,128 retail jobs were cut this year and about 16,000 shops were shut permanently, according to the Centre for Retail Research. Just over 18 per cent involved company voluntary arrangements, which allow companies to close stores and cut rents without going into administration. Trouble on the high street has led big chains, including Carpetright and Mothercare, to close some stores and shed jobs. However, smaller retailers lost fewer staff this year.

Source: The Times December 30, 2019 00:00 UTC