According to new research findings, more than 8,700 (8,739) chain stores of British high streets, retail parks and shopping centres, closed in the first six months of the year (2021). On average, this makes it almost 50 shops/outlets closing each day!
Surely these figures highlight the impact that the unprecedented Coronavirus pandemic has had and is continuing to have; shopping habits have changed and it’s the local towns and city centres that suffer.
Fashion retailers were hit the most but there was also a decline in car showrooms, betting shops and banks. Leisure and takeaway chains saw the most growth.
Despite a few high-profile retail collapses, the overall number of closures has fallen slightly compared to figures a year before (750 less). Lisa Hooker, consumer markets lead at PwC believes if it was not for last minute Christmas tier restrictions and lockdowns extending into 2021, being coupled with a high amount of store closures last year, then more store closures would have been captured this year. Due to continued government support and resilient consumer spending, many retailers have managed to battle through.
The data discussed here was found from the work of the Local Data Company, on behalf of PwC. More than 200,000 stores operated by businesses with five or more outlets across Great Britain were involved; from all sectors (gyms, retail, café etc).
BBC News share more on the matter.