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85,000 high street jobs lost in 2018

As many as 85,000 jobs have disappeared from the UK high street so far in 2018, as retail sees a growing tide of administrations and store closures.

According to figures from the Office for National Statistics, reported by the Observer, 80,000 jobs were lost in the first six months of the year, with a further 5,000 thought to have been lost between July and October.

Almost 1,000 businesses fell into administration in the year to September 2018, the highest number in five years.

In addition, retailers such as New Look and Mothercare are set to close stores through Company Voluntary Arrangements (CVAs) and other businesses, such as Debenhams and Marks & Spencer, are also slimming down their store portfolios.

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