Retail Excellence Ireland is predicting that only 70% of retail staff could return to work, resulting in 100,000 job losses in the sector.
The group expects that there will be an initial period of pent-up demand when shops reopen, followed by a subdued phase which will see consumer spending fall by up to 40% as has happened in other countries.
Ian Guider, markets editor of the Business Post, brought us this story and more in our daily business update, including:
- Ryanair and Bank of Ireland announce 350 job cuts between them
- Trade talks between the UK and EU hang in the balance
Listen to the interview in full by pressing the play button on this page.