UK Government announced Tier-4 restrictions due to COVID-19

UK Government has announced new restrictions due to raise of Covid-19 infections. The restriction has come just after two weeks of previous lockdown. Retailers have already faced tremendous loss during last lockdown. At the eve of Christmas this lockdown will cost retailers $2.66bn per week.

As new strain of COVID is more infectious than the first, UK government restricted 32 boroughs. All the non-essential retail shop will remain close during this period.

Retailers demanding additional financing supports from government to get back to track as early as possible. At this peak selling period they are uncertain when the restrictions will be lifted. This virus has come as a Hugh blow for the retailers as well as the customers. This dire situation has made it difficult to do business profitably.

Moreover, Retailers have already put their orders on hold. Factories in Bangladesh have seen reduction in their orders as retailers of UK, EU, US stepped back. Earlier this year, lots of factories were closed due to COVID situation. $2.25bn of orders were cancelled or suspended by retailers. Workers faced loss of job as some of the factories sacked their employees and workers to keep minimum loss.

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