Britain's High Streets lost more than 8,700 stores in the first six months of 2021, research suggests.
More than 8,700 chain stores closed in British High Streets, shopping centres and retail parks in the first six months of this year, research suggests.
"After an acceleration in store closures last year couple with last minute Christmas tier restrictions and lockdowns extending into 2021, we might have expected a higher number of store closures this year," says Lisa Hooker, consumer markets lead at PwC. Fashion retailers recorded the biggest decline reflecting the collapse of Sir Philip Green's retail empire which saw his brands, including TopShop and Dorothy Perkins, disappear from the High Street.There was also a decline in car showrooms, betting shops and banks, providing yet more evidence of changing shopping behaviour and the shift to online.
London, for instance, has gone from being the best performing region in 2016 to the worst for two years running. "When rents go down, more creative-based businesses can survive... I do have some confidence that new ideas will come in [to the High Street]," he says.These latest closures follows the loss of more than 17,500 chain outlets last year.
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