08-25-2020, 06:26 PM
The Liberal Party notes the announcement of the imminent redundancy of 7000 staff at the M&S department chain amidst media reports that Debenhams has hired a specialist firm to explorer the options for the liquidation of the business, threatening a further 14000 jobs.
Whilst both businesses had been struggling to remain viable before the onset of the current pandemic the phenomenon has thrown their struggles back into public view.
The emergence of internet-based retail companies has left many establish retailers with unviable business models, high fixed costs, and liabilities which new entrants are not restrained by and inevitably created an uneven playing field.
The party again calls upon the Government to formulate an action plan to lessen the impact of job losses across the retail sector, be it by the way of business rate’s relief or an extension of the furlough scheme to assists employees now facing a bleak future.
Whilst we understand the retail environment has arguably changed irreversibly, a derelict high street undermines an urban area’s viability and inhibits urban renewal. It also leaves retail staff with the prospect of no livelihood or income in an era of increased economic instability.
Whilst both businesses had been struggling to remain viable before the onset of the current pandemic the phenomenon has thrown their struggles back into public view.
The emergence of internet-based retail companies has left many establish retailers with unviable business models, high fixed costs, and liabilities which new entrants are not restrained by and inevitably created an uneven playing field.
The party again calls upon the Government to formulate an action plan to lessen the impact of job losses across the retail sector, be it by the way of business rate’s relief or an extension of the furlough scheme to assists employees now facing a bleak future.
Whilst we understand the retail environment has arguably changed irreversibly, a derelict high street undermines an urban area’s viability and inhibits urban renewal. It also leaves retail staff with the prospect of no livelihood or income in an era of increased economic instability.