Nearly 15,000 UK retail jobs have been culled in the year so far, according to industry analysis.
Data from the Centre for Retail Research (CRR), cited in The Guardian, said a total of 14,874 retail job losses have been announced this year.
Most of the job cuts, 11,689, have come at large retailers, including Tesco PLC (LSE:TSCO) and Asda, which are in the process of carrying out cost-cutting and restructuring programmes.
Many national retailers, including stationary brand Paperchase, clothing chain M&Co and Tile Giant have all gone bust in recent weeks, which has resulted in 3,185 people losing their jobs.
According to the CRR, retail in most of the Western world has “been in crisis for more than ten years”.
Debt-fuelled expansion in the noughties was followed by the financial crash in 2008, which led to the collapse of many retailers, the most famous in the UK being Woolworths.