The trade association representing some 70% of the UK’s corner shops has warned of mass closures unless the government supports businesses in the face of rising energy costs.
The Association of Convenience Stores has told chancellor Nadhim Zahawi that the sector requires a £575m assistance package, including a cap on commercial energy costs.
“Many convenience store retailers, both small and large businesses, are reporting that they are not viable with the increased energy costs they are now facing,” wrote ACS chief executive James Lowman.
The ACS predicts that energy costs for the convenience store sector will hit £2.5bn this year and rise further next year.
“Without action to mitigate this we will see villages, housing estates, neighbourhoods and high streets lose their small shops,” it said.
