‘Crisis’ in the Retail Sector

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Recent research released by the Centre for Retail Research (CRR) has identified a “crisis” in the retail sector, with nearly 15,000 jobs lost so far in 2023. The figures have also shown that the majority of job losses this year – 11,689 – were at large retailers such as Tesco and Asda, which are both undergoing cost-reducing programmes and restructuring operations. In addition, 3,185 roles have been cut at large retailers that have collapsed and are undergoing insolvency proceedings. Click here for more.