UK Store Closures Reach Record Level

April 16, 2019

The gap between the number of stores closing and those opening on the UK’s top 500 high streets has reached record levels, new research for PwC compiled by the Local Data Company has shown.

A record net 2,481 stores disappeared in 2018, compared to a net loss of 1,1772 in 2017. This is the largest full year net decline in stores, as the deficit breaches 2,400 for the first time.

In total, 3,372 shops opened in 2018, compared with 5,833 closures.

The number of store openings by multiple retailers has dropped by 17.4% year on year. The current rate of openings is nine stores per day, compared with 16 stores per day in 2013.

The rate of store closures in 2018 remained at 16 stores a day, the same as 2017.

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