Almost 170,000 retail jobs lost in 2024 - and there could be even more next year
Sky NewsAlmost 170,000 retail workers lost their jobs this year after the collapse of major high street chains, according to data. "The problems of changed customer shopping habits, inflation, rising energy costs, rents and business rates have continued and forced many retailers to cut back even more strongly in 2024." 'Multi-hazard storm' to hit on New Year's Day Last man on UK's loneliest housing estate Experts said 2025 is expected to be another challenging year for high street firms, with an increase in national insurance contributions as well as a reduction in discounts for business rates - the property tax affecting high street firms. Get Sky News on WhatsApp Follow our channel and never miss an update Tap here to follow Alex Probyn, president of property tax at real estate adviser Altus Group, said: "The cut in the business rates discount from 1 April will disproportionately affect independent retailers who will see their bills rise on average by 140% adding an extra £5,024 for the average shop."
History of this topic
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