FTSE UK Retail Sales fell by 27% in the first two weeks | G20 Group suspends debt payments

  • Apr 15, 2020 BST
  • Team Kalkine

High Street fashion chains Oasis and Warehouse have fallen into administration, leading to more than 200 immediate job losses.

Some 1,800 staff across the shops, concessions and head office will be furloughed and receive 80% of pay.

The brands will continue to be sold online "short-term" while the administrators try to sell the brand.

Administrator Deloitte said the coronavirus had had a "devastating effect on the entire retail industry".

2. Retail sales fell by 27% in the first two weeks of the UK's lockdown, resulting in the worst monthly decline on record for the sector overall last month, according to industry figures.

The British Retail Consortium said the coronavirus crisis, which has resulted in deserted high streets throughout the UK, means hundreds of thousands of jobs are at risk.

3. The government has extended the cut-off date for its scheme to protect furloughed workers' wages by three weeks.

The Coronavirus Job Retention Scheme allows employers affected by the COVID-19 pandemic to apply for a government grant that covers 80% of each of their employee's wages, up to £2,500 per month.

4. Nations belonging to the G20 group of leading economies have agreed to suspend debt payments owed to them by some of the world's poorest countries.
The agreement covers money that is due to be paid to G20 governments up to the end of 2020.

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