As the Cocid-19 lockdown continues to lash out at the retail sector, record number of shops have apparently disappeared from high streets across the UK. Figures published by the Local Data Company and advisory firm PwC revealed a total of 11,120 chain store outlets closed between January and June, while 5,119 opened. The figures show over 60 stores closed per day on average, while 28 opened. The research covers high streets, shopping centres and retail parks in England, Scotland, and Wales.
The worst-affected was York, with 55 net shop closures in the first six months of the year, followed by Durham with 43 closures, and 26 in Corby. During this period, Carphone Warehouse closed all 531 standalone branches, and fashion chains including Oasis, Warehouse, Laura Ashely and Cath Kidston all closed down. Big names including Marks & Spencer, Debenhams and House of Fraser also closed stores.
The reports says, “Unless further government stimulus is announced, we’re guaranteed to see further closures” as a result of factors such as further movement restrictions, the unwinding of the furlough scheme this month and the end of business rates relief and VAT reductions for the hospitality sector in March.
The data sheds light on the high street that has affected thousands of jobs. Head of retail and strategic partnerships at the Local Data Company, Lucy Stainton was quoted in a report as saying, “The results from the first half of 2020 are a stark reminder of the challenges faced by retailers in the first six months of the year, which included a national lockdown.”
Greater London saw the highest number of net closures, 1,008, followed by the south-east of England and the north-west. But Yorkshire and the Humber recorded the biggest loss of chain stores in percentage terms, with a net 3.4 per cent of outlets disappearing, compared with 2.2 per cent in the east of England.
