Retailers closing up to 14 shops per day

Published on Friday, 17 February 2012 09:33
Posted by Scott Buckler

Multiple retailers closed more shops than they opened last year, for the first time since 2008, with the overall number falling by 174, some 0.25% of the total, according to a study of the 500 biggest town centres in the UK by PwC and the Local Data Company

An average of 14 town centre chain stores were closed every day in 2011, but investment is still finding its way into the high street, with the management of supermarket Iceland confirming they have raised funds for an estimated £1.55bn buyout.

Those selling books, electrical items, home furnishings, menswear and holidays suffered most, along with off licences, bars and pubs. By contrast, pound stores, charity shops, credit unions, supermarkets and convenience food retailers all increased their store count.

 

Source: Guardian

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