LONDON, July 16 (Reuters) - Visitors to London's West End
shopping and entertainment district are down 73% year-on-year
since lockdown restrictions were eased on June 15, an industry
lobby group said on Thursday, warning the lack of trade was
putting 50,000 jobs at risk.
Britain's retailers, already struggling with high rents,
business taxes, tight margins and online competition, were
particularly hammered by the lockdown. Thousands of job losses
have already been announced.
The New West End Company said that without further
government action, businesses in the area were facing 5 billion
pounds ($6.3 billion) of lost sales. It represents 600 retail,
restaurant, hotel and property owners across one of the world's
top shopping and leisure destinations -- encompassing Oxford
Street, Bond Street, Regent Street and Mayfair.
The group said the West End was faring much worse than the
rest of the UK, highlighting data from market researcher
Springboard which showed footfall levels in UK high streets as a
whole down 57.2% compared with June last year.
"What this data shows, is that city centres, significantly
central London, are being held back by a series of restrictions,
including uncertainty surrounding returning to work and the use
of public transport," New West End Company said.
It called on clarity from the government to instil consumer
confidence and wants a reform of tax free shopping.
Last week finance minister Rishi Sunak said the government
would fund discounts on eating out on Mondays, Tuesdays and
Wednesdays in August, and also slashed value-added tax for the
hospitality and domestic tourism sector.
($1 = 0.7917 pounds)
(Reporting by James Davey; Editing by Catherine Evans)