Nov 9, 2018
Retailers shut 2,700 shops in first half of the year
A net 1,123 stores disappeared from Britain's top 500 high streets in the first six months of the year, according to the accountancy firm PwC. It said fashion and electrical stores had suffered most as customers did more shopping online. "Looking ahead, the turmoil facing the sector is unlikely to abate," said Lisa Hooker, consumer markets leader at PwC. "Store closures in the second half of the year due to administrations and company voluntary arrangements already announced will further intensify the situation." According to PwC, 2,692 shops shut across the UK in the first half of 2018, while only 1,569 new stores opened. There were some bright spots with supermarkets, booksellers, ice cream parlours and coffee shops all seeing slim net gains in their store counts. None of the UK regions analysed by PwC recorded a net gain in store count in the first six months of the year.
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