Boots could become the latest casualty on Britain’s crisis hit high street.
The American owner of the chain has commenced a review; which could result in the closure of over 200 Boots stores. The review is thought to be set to last 12 to 18 months from now. Increasing business rates and online shopping are being cited as the reasons for this.
Boots is one of Britain’s largest retailers with about 2500 shops and 56,000 staff. This is yet another big company potentially joining the “bloodbath” of shop closures in 2018 whereupon it was reported this resulted in 93,000 job losses.
Here we have yet another example of UK high street retailers being detrimentally affected by a changing economy and market conditions.
The pressure on high street retailers has hit an all time high as they continue to try and keep up with increased costs and the ever growing popularity of online shopping.
Other big retailers recently affected by store closures and redundancies have included: Mothercare, Homebase, Toys R’ Us, Carpetright; House of Fraser, Maplin, Poundworld, Marks and Spencer, HMV and LK Bennett.
Store closures are also being reported for Debenhams, New Look and Topshop.
With the current unstable nature of high street businesses and prospect of redundancies, it is not surprising that many retail workers are concerned for their jobs.
Understanding your legal position and options at an early stage may give you scope to protect your position at work or to negotiate an increased redundancy package.
Farleys Solicitors LLP specialise in all areas of HR and employment law for all levels of employees.
If you require advice and assistance in relation to compulsory or voluntary redundancies; re-structures and re-organisations; variation of employment contracts; settlement (compromise) agreements and termination / severance packages, please contact Farleys Employment Law & HR team on 0845 287 0939 or submit your enquiry online.
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