Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
/COURTESY

Top Story

England high streets could lose 400,000 jobs post Covid: study

LONDON, United Kingdom, Jan 14 – Main shopping streets in England’s towns and cities could lose  another 400,000-plus jobs after coronavirus passes, as Britons continue to work from home and buy online, accountants KPMG said Thursday.

Covid-19 has already ravaged the UK retail sector, with tens of thousands of jobs being lost and big-name bankruptcies, although supermarkets have boomed.

“The reduction in commuter footfall (and) the accelerated shift to online shopping is exacerbating the vacuum in city and town centres, with less people calling in to shop,” said the KPMG study of 109 towns and cities.

“According to KPMG analysis, high streets could lose between 20-40 percent of their retail offerings… This could see over 400,000 job losses on the high street.”

KPMG UK chief economist Yael Selfin said consumers were more likely to purchase household goods online in the wake of the pandemic.

“It has also made working from home acceptable and online gatherings… freeing endless hours of business travel and expense for better use.”

 

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...