Renewed interest in the music of Michael Jackson following the star’s death last week will boost the high street but restaurants and bars around the O2 arena are set to count the cost, according to recruiters.

Steve Walters, managing director at Faces Bespoke Retail Recruitment Consultancy, told Recruiter that music retailers will see an increase in sales.

“The impact has been felt in one part of the industry but it could spill over to other parts. All the flowers that have been bought have to be bought from somewhere.

“People are sad but are rejoicing in what he [Jackson] represented. The new generation is discovering who he is. HMV racks are empty and if they are out buying CDs, they might buy a pair of trainers or something else.”

But Gary King, director at hospitality recruiter Collins King & Associates, told Recruiter that the cancellation of Jackson’s 50 date residency at London’s O2 would prove damaging to restaurants and bars servicing the venue.

“One of my clients that has a site at the O2 has been hit very hard. This will cost them between £1m to £1.5m in lost revenue. It will hit anyone at the O2. The restaurants and bars will be hit. There is a huge gap there that needs to be filled.”