Posted on

Boots to cut 4,000 jobs as John Lewis to shut eight stores, putting 1,300 jobs at risk – business live | Business


British health and beauty retailer Boots plans to cut 4,000 jobs and close 48 optician stores, in the latest major blow to the country’s retail sector from the COVID-19 crisis.

British brands including John Lewis and Harrods have announced thousands of job cuts in the last two weeks after the pandemic forced customers to shop online and many remained reluctant to return to the high street even as restrictions eased.

Walgreens Boots Alliance, the owner of the retailer, said on Thursday its most significant COVID-19 impact had come in Britain, with footfall down 85% in April, forcing it to take an impairment charge of $2 billion.



Source link

Posted on

UK government borrowing hits record high in April and retail sales slump – business live | Business






Full story: Borrowing surge amid crisis





Retail sales slump: What the experts say









Covid-19 fears and Hong Kong tensions hit markets





UK internet shopping hits record high









UK borrowing: What the economists say









Introduction: Government borrowing hits £62bn in April

Updated





Source link