Lockdown is costing non-food retail stores £1.8bn a week in the UK.
The cost is in lost revenues due to a completely loss of footfall due to the lockdown measures as part of the Government’s coronavirus efforts.
According to ONS, retail sales for “predominantly non-food stores” in April 2020 were down 54.8% on the previous year.
This represents a fall of £1.76bn a week, from £3.22bn a week, to £1.46bn a week.
Commenting, Helen Dickinson, the BRC’s chief executive, said: “Many retailers are eagerly looking forward to reopening stores from 15th June in order to meet the needs of their customers. Lockdown has cost non-food stores £1.8bn a week in lost revenues and with sales expected to remain weak, even as shops begin to reopen, many retailers will still be in a fight for survival.
Adding: “Government must act to ensure that retail rents take account of the ongoing crisis in the industry. Swift action would protect jobs and businesses – helping retail to play its part in restarting the UK economy.”