Job loss fears as 7,000 corner shops at threat of closure from high energy bills

10 March 2023 , 00:01

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Jeremy Hunt is facing calls to extend support for non-domestic energy customers (Image: PA)

Nearly 7,000 corner shops could shut unless there is more help with energy bills in next week’s Budget, industry chiefs have warned.

Trade body the Association of Convenience Stores says urgent support is needed as it revealed some shop owners have seen their energy costs quadruple.

Worst hit are 6,900 independents lumbered with costly fixed rate contracts taken out when wholesale energy prices were sky-high.

As such contracts typically last one to two years, these shop owners are unable to benefit from the recent fall in prices.

The 6,900 shops concerned employ more than 46,000 people.

Shop prices 'are yet to peak and will remain high' as inflation hits new heights

Chancellor Jeremy Hunt was already facing calls to extend support for non-domestic energy customers beyond April.

As the Daily Mirror has revealed, operators of pubs to swimming pools have warned they could be forced to shut when the current level of help is slashed.

ACS chief executive James Lowman said: “We have repeatedly warned the Government that there are many convenience stores who simply cannot afford the increases that they are seeing in their energy costs and without additional support they may be forced to close their doors for good.

“The planned energy support for businesses from April is a scattergun approach that has failed to target support for those who need it most, and this must be urgently addressed.”

Graham Hiscott