Convenience stores feeling the squeeze

CONVENIENCE stores have cut 2,000 jobs over an “extremely challenging year’ after coming under pressure from soaring labour costs and fierce competition.

- HENRY SAKER-CLARK

The Association of Convenience Stores (ACS) warned that pessimistic consumers and increased costs for retailers are therefore putting the UK’s 50,000 local shops under pressure, resulting in weaker investment and fewer jobs. James Lowman, chief executive of the trade group, said: “This has been an extremely challenging year for local shops as the cost of doing business has risen significantly while sales have stagnated due to fierce competition from discounters, supermarkets and other retailers.