Menu
28/05/2013
1 In 5 High Street Shops 'Could Close' By 2015
A new study has found one in five of Britain's high street shops could close by 2018.
It is thought one of the factors behind the shop closures is because more people are turning to the internet to carry out their shopping.
The study, which was carried out by the Centre for Retail Research, said that 62,000 shops could shut within the next five years. It also estimated that around 316,000 people would lose their jobs as a result, with areas of Britain's high streets being converted into housing.
Professor Joshua Bamfield's report, named Retail Futures 2018, suggested the first closures will be pharmacies and health and beauty stores. This will be followed by shops selling music, books, cards, stationery and gifts. DIY outlets are also expected to fold.
Speaking to the Daily Mail, he explained: "The total number of UK retail stores will fall by 22% over the next five years from 281,930 to 220,000 in 2018.
"If no action is taken, store vacancy rates could almost double to 24%. Already this year, 16 major retailers have gone into administration operating 1,985 shops and employing 14,719 staff.
"By the end of 2018, research predicts that a further 164 companies will go bust, taking 22,600 stores and 140,000 employees with them."
Wales and the North East of England are thought to be the worst affected, with almost one in three stores expected to close, while the South East is expected to see a 13% decrease in the number of shops by 2018.
(JP/IT)
It is thought one of the factors behind the shop closures is because more people are turning to the internet to carry out their shopping.
The study, which was carried out by the Centre for Retail Research, said that 62,000 shops could shut within the next five years. It also estimated that around 316,000 people would lose their jobs as a result, with areas of Britain's high streets being converted into housing.
Professor Joshua Bamfield's report, named Retail Futures 2018, suggested the first closures will be pharmacies and health and beauty stores. This will be followed by shops selling music, books, cards, stationery and gifts. DIY outlets are also expected to fold.
Speaking to the Daily Mail, he explained: "The total number of UK retail stores will fall by 22% over the next five years from 281,930 to 220,000 in 2018.
"If no action is taken, store vacancy rates could almost double to 24%. Already this year, 16 major retailers have gone into administration operating 1,985 shops and employing 14,719 staff.
"By the end of 2018, research predicts that a further 164 companies will go bust, taking 22,600 stores and 140,000 employees with them."
Wales and the North East of England are thought to be the worst affected, with almost one in three stores expected to close, while the South East is expected to see a 13% decrease in the number of shops by 2018.
(JP/IT)
Related UK National News Stories
Click here for the latest headlines.
28 February 2013
Payday Loan Stores Fastest Growing Retail Business
Almost 1,800 high street stores closed in 2012, a new report has shown. A report by PricewaterhouseCoopers and the Local Data Company showed the net number of store closures rose by 174 from 2011.
Payday Loan Stores Fastest Growing Retail Business
Almost 1,800 high street stores closed in 2012, a new report has shown. A report by PricewaterhouseCoopers and the Local Data Company showed the net number of store closures rose by 174 from 2011.
21 July 2005
Sluggish retail sales growth peaks in June
The latest figures from the Office for National Statistics have revealed that in June the underlying rate of growth in retail sales volumes was the highest so far this year. However, the annual growth has remained the lowest for more than six years, according to data released today by the ONS.
Sluggish retail sales growth peaks in June
The latest figures from the Office for National Statistics have revealed that in June the underlying rate of growth in retail sales volumes was the highest so far this year. However, the annual growth has remained the lowest for more than six years, according to data released today by the ONS.
18 November 2004
Figures show slide in retail sales growth
Underlying retail sales growth is distinctly lower than in the first half of this year, according to figures published today by the Office for National Statistics (ONS). The latest retail sales survey for October 2004 found that the volume of sales in the three months August to October was 1.
Figures show slide in retail sales growth
Underlying retail sales growth is distinctly lower than in the first half of this year, according to figures published today by the Office for National Statistics (ONS). The latest retail sales survey for October 2004 found that the volume of sales in the three months August to October was 1.
06 December 2005
Pre-Christmas retail boost for shops
Retail sales increased for the first time since March, last month, the British Retail Consortium has reported. Like-for-like sales increased by 0.8% n November, compared to 0.2% during the same period last year.
Pre-Christmas retail boost for shops
Retail sales increased for the first time since March, last month, the British Retail Consortium has reported. Like-for-like sales increased by 0.8% n November, compared to 0.2% during the same period last year.
22 September 2014
EE And Vodafone To Take Over Almost 200 Phones 4U Stores
Fifty eight former Phones 4U shops are to be bought by mobile operator EE, safeguarding 359 jobs. It follows an announcement on Friday that Vodafone was to take on 140 of the failed retailers shops. Phones 4U was placed in administration last week, when Vodafone and EE both declined to allow the retailer to sell its contracts.
EE And Vodafone To Take Over Almost 200 Phones 4U Stores
Fifty eight former Phones 4U shops are to be bought by mobile operator EE, safeguarding 359 jobs. It follows an announcement on Friday that Vodafone was to take on 140 of the failed retailers shops. Phones 4U was placed in administration last week, when Vodafone and EE both declined to allow the retailer to sell its contracts.
-
Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
