Wilko’s collapse will bring retail job losses to 100,000 as of 2020

This year alone, major and mid-sized retail companies have cut over 17,000 jobs.

According to new data from the Retail Research Center, the collapse of Wilko is putting 12,500 jobs at risk, pushing the total retail job losses since 2020 to over 100,000.

This year alone, major and mid-sized retail companies have cut over 17,000 jobs, including those in the collapsed retail chain. However, many Wilko employees are not yet included in this count.

The loss of 17,000 jobs in the first nine months of 2022 surpasses last year’s figure by 6,732 positions. In 2021, 24,179 jobs were lost, and in 2020, the pandemic reduced 53,364 posts. Since 2020, if Wilko employees are included, more than 101,000 jobs have been lost in the retail sector.

Over the past three years, the retail sector has witnessed several high-profile collapses, including Debenhams and Arcadia-owned Topshop. Wilko is the latest addition to this list, with all 400 stores set to close next month, marking the retail industry’s final setback since Woolworths.

While companies like B&M and Poundland have acquired 122 Wilko stores, it remains uncertain whether they can preserve jobs. Poundland has stated that Wilko employees will be given priority in hiring for the 71 stores it has acquired.