Job losses and store closures in retail UK 2024| Statista

In 2024, the total number of job losses in the retail sector in the United Kingdom (UK) reached 169,395 for the full year. According to estimations, there were almost 13,500 retail store closures, 7,537 of which were through administration. Some 5,942 of these closures were a result of "rationalisation" processes, which the source defined as "store closures or job losses occurring either as a regular aspect of business or a special cost-cutting programme."

Number of job losses and store closures in the retail sector in the United Kingdom (UK) in 2024

Characteristic	Administration	Rationalisation	Totals
Specific redundancies & rationalisation	7,727	17,757	25,484
Self-employed/concessions in larger shops	4,311	6,200	10,511
Independent store closures	6.62	4,722	11,341
Independent job losses	32,645	25,971	58.62
Multiples: stores closed	918	1,220	2,138
Multiples: jobs lost	11,231	65,553	74,784
Total store closures	7,537	5,942	13,479
Total job losses	55,914	113,481	169,395

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Release date

January 2025

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Region

United Kingdom

Survey time period

2024

Supplementary notes

Date of access used for date of release.

The source defines rationalisation as follows: "our term for store closures or job losses occurring either as a regular aspect of business or a special cost-cutting programme. Retailers may close stores or warehouses, reorganise their management structure in stores or the head office or propose cuts in every department in order to reduce losses and cut costs, but where there is no recourse to administration or CVAs."
CVA is defined by the source s follows: "CVAs – Company Voluntary Arrangements – a different form of insolvency intended normally to give a business time to prepare a recovery business plan, which needs the agreement of its creditors. The plans often involve store closures and job losses as part of relaunching the business."

Missing data points for administrations and CVAs were not applicable.

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