Financial Times: Duncan Brewer Comments On The Impact Of COVID-19 On UK Retail
May 22, 2020
Duncan Brewer, Retail Partner, spoke to the Financial Times on COVID-19 and its impact on the April 2020 Office for National Statistics (ONS) retail sales.
The FT highlighted that British retail sales decreased by the most on record in April despite a surge in online shopping as people stayed at home and non-essential stores were shut. The slow recovery and shift to online spending means that the future of many high street shops at is at risk.
Duncan commented: “Come July, consumers who will have remained mainly indoors and in their own neighbourhoods since the start of the lockdown may not recognise the high street, with debt and lack of footfall causing many much-loved businesses to permanently close.”