Coronavirus lockdown may spell end of UK high street as many retailers struggle
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dailystar.co.ukYour local high street will never be the same again after the coronavirus crisis, economics experts have warned. A report from business consultants Alvarez & Marsal warns that already-struggling retail stores will be wiped out by recession.
This comes as fashion chains Oasis and Warehouse collapsed into administration today. It says sales are predicted to drop by as much as 70% since the lockdown was introduced on March 23.
A fall of 10% would be enough to cause critical financial losses in over two-thirds of major UK retailers, the report adds. A 70% fall will tip every non-food retail shop into immediate negative cash flow.
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