To contain the spread of the coronavirus (COVID-19), on March 23, 2020, a number of restrictions were introduced in the United Kingdom (UK). People were urged to stay and work from home. Numerous retailers deemed non-essential had to temporarily suspend their operations. The disruption of activity is a serious threat to the survival of businesses in the retail sector and thus, with a potential knock-on effect on the commercial real estate sector. The asset class most affected was high street retail and leisure, with 42 percent of the units having filed for administration following the lockdown restrictions. Only 19 percent of high street units were classed as essential and could stay open as the restrictions were imposed.
Distribution of retail and leisure businesses filing for administration following the coronavirus (COVID-19) lockdown measures in the United Kingdom (UK) after March 23, 2020, by asset class
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Savills. (May 11, 2020). Distribution of retail and leisure businesses filing for administration following the coronavirus (COVID-19) lockdown measures in the United Kingdom (UK) after March 23, 2020, by asset class [Graph]. In Statista. Retrieved November 05, 2024, from https://www.statista.com/statistics/1116627/share-of-commercial-units-in-administration-after-covid-19-coronavirus-lockdown-restrictions-united-kingdom/
Savills. "Distribution of retail and leisure businesses filing for administration following the coronavirus (COVID-19) lockdown measures in the United Kingdom (UK) after March 23, 2020, by asset class." Chart. May 11, 2020. Statista. Accessed November 05, 2024. https://www.statista.com/statistics/1116627/share-of-commercial-units-in-administration-after-covid-19-coronavirus-lockdown-restrictions-united-kingdom/
Savills. (2020). Distribution of retail and leisure businesses filing for administration following the coronavirus (COVID-19) lockdown measures in the United Kingdom (UK) after March 23, 2020, by asset class. Statista. Statista Inc.. Accessed: November 05, 2024. https://www.statista.com/statistics/1116627/share-of-commercial-units-in-administration-after-covid-19-coronavirus-lockdown-restrictions-united-kingdom/
Savills. "Distribution of Retail and Leisure Businesses Filing for Administration following The Coronavirus (Covid-19) Lockdown Measures in The United Kingdom (Uk) after March 23, 2020, by Asset Class." Statista, Statista Inc., 11 May 2020, https://www.statista.com/statistics/1116627/share-of-commercial-units-in-administration-after-covid-19-coronavirus-lockdown-restrictions-united-kingdom/
Savills, Distribution of retail and leisure businesses filing for administration following the coronavirus (COVID-19) lockdown measures in the United Kingdom (UK) after March 23, 2020, by asset class Statista, https://www.statista.com/statistics/1116627/share-of-commercial-units-in-administration-after-covid-19-coronavirus-lockdown-restrictions-united-kingdom/ (last visited November 05, 2024)
Distribution of retail and leisure businesses filing for administration following the coronavirus (COVID-19) lockdown measures in the United Kingdom (UK) after March 23, 2020, by asset class [Graph], Savills, May 11, 2020. [Online]. Available: https://www.statista.com/statistics/1116627/share-of-commercial-units-in-administration-after-covid-19-coronavirus-lockdown-restrictions-united-kingdom/
