According to a recent study by Centre for Retail Research, over 140,000 jobs have been cut from UK’s high street retail sector in 2019 over continued strain driven by low consumer spending. This translates to over 2,750 jobs being lost every week this year, and the situation is expected to worsen in the coming year.

According to CRR, high business rates in the retail industry have forced high street brands to close stores at a faster pace, driving job loss. High operating costs, reducing profitability and increasing preference for online shopping have also contributed to the steep downfall in jobs in Britain’s high street sector.

According to CRR’s director, Prof Joshua Bamfield, “The low growth in consumer spending since 2015 has meant that the growth in online sales has come at the expense of the high street.” With more leading brands looking to close down their stores, the crisis is expected to grow in 2020.

Some of the leading high street bands looking at closure include Mothercare, Debenhamss, Forever 21 and Patisserie Valerie. 2019 saw leading brands like Regis/Supercuts, Bonmarché, Albemarle & Bond, Select, and several other leading names close shop and cut jobs.