The UK high street survived its toughest year since 2010 last year, with store closures soaring as competition from internet retailers hots up.
A net 1,700 chain shops closed on British high streets in 2017, according to analysis of the UK’s top 500 towns compiled by the Local Data Company (LDC) for PricewaterhouseCoopers.
In the UK an average of 11 stores a day opened, but 16 a day closed, not including figures from independent shops.
Retailers were not the only ones hit throughout the course of the year, with travel agents and estate agents also affected by online competitors.
High streets have also been negatively affected by shoppers having a lower disposable income, as inflation boosts the price of groceries and leaves less money in consumers’ pockets.
Major British retailers have been hit hard lately, with many announcing the closure or falling into administrations. 2018 has so far seen the loss of Toys R Us, with Mothercare and Carpetright facing difficulties.
