Retailers shed 170,000 jobs in worst year since peak of the pandemic

Almost 170,000 retail workers have lost their jobs in another challenging year for the high street, a report said yesterday.

- Simon Goodley

The collapse of chains such as Homebase and the Body Shop put thousands of jobs at risk and contributed to 169,395 positions vanishing this year - a 42% rise on 2023.

The end-of-year figures compiled by the Centre for Retail Research are the worst since more than 200,000 jobs were lost in 2020 in the aftermath of Covid-19 lockdowns.

It says 38 major retailers have gone into administration this year, including Lloyds Pharmacy, Carpetright and Ted Baker.

Administrations accounted for about a third of the job losses - 55,914 in total - with the remainder axed by large retailers or small independents shuttering unprofitable stores.