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Why shop closures in Tier 4 areas are 'catastrophic' for retailers


Why shop closures in Tier 4 areas are ‘catastrophic’ for retailers
Retailers and analysts agree: shutting shops so close to Christmas will have a devastating impact on the sector
21 December 2020 • 3:11pm
Pedestrians on an empty Carnaby Street on Monday morning
Credit: Bloomberg
The run-up to Christmas typically finds London’s shopping districts at their most bustling, with the lights strung over Regent Street and other main arteries twinkling down onto throngs of last-minute Christmas shoppers - some of whom will have held out for bargains, others out to soak up the festive atmosphere.
But this week, those lights are twinkling onto empty streets. On Saturday afternoon, Prime Minister Boris Johnson announced a new tier of more severe restrictions in response to a highly infectious mutation of Covid-19. Sixteen million people in London, the South East and the East of England were advised that they would fall under Tier 4 restrictions from midnight Su ....

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