Businesses have warned that they could go under or be forced to lay off staff if the chancellor's job retention scheme, designed to prevent unemployment during the coronavirus pandemic, is not extended.
However, the scheme is due to expire at the end of June, after it was announced by the Chancellor Rishi Sunak on March 20. Among them is independent watch retailer the Camden Watch Company, set up by husband and wife Jerome Robert and Anneke Short, which has three branches in London employing a total of eight people.
"We're very lucky in that our landlords have been very understanding, some have reduced rent, some have completely stopped rents for the time being, others haven't been able to do anything because of their financial situation, but that was very lucky as it cut down our outgoings straight away Anneke said:"Our business could end up shutting down and that's something we've thought about and want to avoid that as much as possible.