Eighteen high street shops are shutting a day
Tuesday 24 September 2013
Town centre stores are shutting down at a rate of 18 a day across Britain, according to figures.
More shops are closing than opening with clothes stores, video and photography retailers suffering the hardest, while charity shops, bookies and cheque cashing outlets continue to grow.
The data from the PricewaterhouseCoopers and the Local Data Company also reveal that the South East and East Midlands suffered the hardest in the first six months of the year, with both seeing a net fall in stores over the period, while Yorkshire performed best with a slight increase.
Mark Hudson, retail partner at PwC, explained: “This set of figures represents the continuing transformation of our traditional retailers and stores estates as they respond to the changing behaviour of their digitally-enabled customers.”
Analysing 500 UK town centres, they showed 3,366 stores closed while just 3,157 opened, a net reduction of 209 shops.
This was an improvement on the same period last year when the net reduction was 953, but shows the high street is still struggling.
Many retailers have blamed the high business rates for causing a decline, with some arguing for an online sales tax because online retailers are not burdened with the same rates bill.
The British Retail Consortium is urging the Government to cap the rise to 2%, rather than in line with RPI, and to bring forward a rates review because so many rents have fallen – rates are calculated on rents from 2008.
Mike Jervis, insolvency partner and retail specialist at PwC, added: “Closures in areas such as the photography and video sectors reflect the sea-change in how consumers are spending – the well-publicised insolvencies at Jessops and Blockbuster are stark proof of that.”
Elsewhere, convenience stores have also seen a rise in high street openings, as supermarkets continue to tap into what is now one of the biggest growth areas in groceries.
Morrisons and Waitrose have also joined the convenience store revolution, with the former snapping up several empty Blockbuster and HMV stores.
- 1 Home Office says Nigerian asylum-seeker can’t be a lesbian as she’s got children
- 2 What happens to your body when you give up sugar?
- 3 Drugs Live cannabis trial: Hash is less harmful than any other drug, expert claims
- 4 Turkish Airlines flight TK 726 crash-lands on Nepal runway amid dense fog
- 5 Apple and Google users being spied on for a decade because of 'Freak' security flaw
The City of the Monkey God: Archaeologists claim to have found city lost for 1,000 years in remote Honduran jungle
Turkish Airlines flight TK 726 crash-lands on Nepal runway amid dense fog
Japanese island overrun with cats after population explodes
London property boom built on dirty money
Becky Watts: Stepbrother and his girlfriend named locally as two arrested on suspicion of murder
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Durham Free School: 'Creationism taught at' free school facing closure
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
Ukip would cut billions from Scottish budget to fund English tax cuts
End of the licence fee: BBC to back radical overhaul of how it is funded
Ukraine crisis: Top Chinese diplomat backs Putin and says West should 'abandon zero-sum mentality'
£14000 - £16000 per annum: Recruitment Genius: Full time and Part time positio...
£45000 per annum: Ashdown Group: An established and reputable Not for Profit o...
£14000 - £17000 per annum: Recruitment Genius: A Sales Ledger & Credit Control...
£16000 - £19000 per annum: Recruitment Genius: A Project Administrator is requ...