A TOTAL of 10 stores are set to close in the coming weeks, in a fresh blow to the UK high street. Shoppers have been hit with a swathe of closures in recent years, seeing some of their favourite chains shutter sites. The cost of living crisis has seen households with less money in their pockets, leading some to cut back on their spending.
This has had a knock-on effect on high street shops, which have seen lower footfall and less money landing in the tills, and many have been forced to close outlets. That, coupled with ongoing restructuring plans and high rents, has meant several chains have shuttered hundreds of sites. Figures from the Centre for Retail Research, a research foundation, revealed almost 10,500 shops closed for the final time in 2023.
The 12-month period also saw over 119,000 jobs lost across the sector. According to the Centre's most recent data, 804 stores have closed and 16,565 retail jobs were lost during January, February, March, April and May 2024. This month will be no different, with at least a 10 stores closing their doors for the last time.
Of course, it's not all bad news though, in some cases the branches will be replaced with bigger and better shops. Retailers regularly open and close shops for a number of reasons - not just because they are struggling. It could be because they have a store nearby that is performing better or it may be because they want to pick a spot that has higher footfall, such as a retail park.
We reveal which sites are pullin.
