Major UK High Street Stores Face Closure as 10,000 Staff Risk Job Losses

Over 10,000 jobs are at stake as iconic UK high street stores face potential closures this year

London: The UK high street is in trouble. Over 10,000 workers may lose their jobs. Many stores are closing, and it’s shaping up to be a tough year.

Last year was already rough. Big names like Morphe and Ted Baker shut down. Even popular stores like WHSmith and Boots closed branches. The situation is getting worse.

Sainsbury’s plans to cut 3,000 jobs. Quiz might go out of business soon. WHSmith is looking for buyers for its stores. It’s a challenging time for many retailers.

The Centre for Retail Research calls this a “permacrisis.” Rising prices and energy costs are hurting shoppers. Many are spending less, which affects stores.

WHSmith

WHSmith is in talks with potential buyers. The company is valued at £1.5 billion. HMV might buy 500 of its stores, which is a big deal.

Quiz

Fast fashion brand Quiz is close to going into administration. This could put 1,500 jobs at risk. They might close many of their 60 stores soon.

Sainsbury’s

Sainsbury’s will close all in-store cafes and cut 3,000 jobs. They want to focus on fresh food instead. This will affect many senior management roles.