Retailers shut 2,870 stores in the first half of 2019

ABOUT 16 shops are closing every day as retailers restructure their businesses and more shopping moves online.

A net 1,234 stores shut on Britain’s top 500 high streets in the first half of the year, according to research by PwC and the Local Data Company.

That is up from 1,123 in the same period last year and the highest since the survey began in 2010.

Fashion retailers saw the biggest declines in the period, followed by restaurants, estate agents and pubs.

According to PwC, fashion retail continued to be the hardest hit sector in the six months to June, with 10 stores a week closing, mainly as a result of high profile administrations and restructurings

Meanwhile, there were net declines of 103 restaurants, 100 estate agents and 96 pubs.

Greater London saw the largest number of net closures of any region, although when taking into account its higher number of shops, its closure rate was in line with the national average.

 

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