What is the government’s reaction to the epidemic of UK retailers filing for bankruptcy?
The panic for the loss of jobs when it came to bankruptcy all started with the biggest and best-known retailers Toys R Us and Maplin. This has led to a combined total 5,500 jobs at risk.
We have seen many stores mimicking their down fall, with the likes of New Look, Tesco, Debenhams, House of Fraser and Poundworld.
Official figures show unemployment is rising at its fastest rate for five years.
The stats have not been aided by Tesco who cut 1,200 jobs at its head office and nightshift workers were struck by the revelation that 3,000 may be let go for shelf stackers.
New Look announced that 10% of the 590 UK stores will come to an end, leading to 980 people being left unemployed.
Poundworld is due to close 25 stores meaning 242 will be left unemployed as they struggled to find a buyer.
This unfortunate event has opened up the question of what the government’s plans are to help the people who are affected by this unemployment crisis.
When speaking to locals in Wimbledon High Street on their opinions on whether they believe the government is doing enough to help the loss of jobs due to retail bankrupts, there was clearly a very tense atmosphere.
One man, who didn’t want to be named said he strongly believed the government were doing ‘nothing’ which explained why ‘people like us don’t respect them’.
He described the administration as ‘a joke’ because ‘they don’t give a monkeys’.
Mr Cass, in his early 20s, believed the loss of jobs was ‘pretty terrible’ but when it came to the government’s actions he said: “I don’t really know what they’re doing.”
Shadow business secretary Rebecca Long-Bailey advised the government to ‘urgently address problems across the retail sector’.
To ensure the safeguarding of jobs for many in Toy R Us and Maplin, the Labour Party has called on the government to talk with trade unions.
Image courtesy of Matt Madd, with thanks.