Analyzing Britain's Retail Crisis: Reasons Behind Your Favorite Shops' Closures
31,165
Published 2023-10-26
Some stores will be replaced with brand new shops while others will disappear from the high street forever.
Boots is closing eight stores, many of which provide community pharmacy services, before the end of 2023.
Budget supermarket Iceland is closing stores in two locations and Tesco is closing one of its popular Express stores.
DIY chain Homebase is closing two stores in November and a third in December.
B&M, Byron Burger, Cineworld, Farmfoods, M&S, Sports Direct and WHSmith are also closing a handful of stores before the end of the year.
The cost of living crisis, stubbornly high inflation and energy costs are taking their toll on retailers.
Shoppers have been cutting back spending, while the cost of actually running a store has also increased, meaning some outlets have struggled to keep going.
Figures from the British Retail Consortium (BRC) this summer found the UK had lost 6,000 stores over a five-year period.
Several major brands have also collapsed and closed stores for good.
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All Comments (21)
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Inaccessible city centres, greedy council parking costs and Amazon?
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The Goverment Goverment Taxes Fuel costs Foid costs Energy costs Have killed retail
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I live near Bristol. The Mayor of Bristol has made the experience of driving into Bristol to visit the High street an unbearably expensive endeavour. Just don’t bother these days.
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No need to watch the video i can tell you why they are closing its really simple. Most of us are shopping ONLINE.....
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Don’t misunderstand. The main reason of retail apocalypse is the worse poverty.😆
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What a mess world we are living in now.
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I still got an empty Debenhams and an empty Wilko's in my local town in King's Lynn as well,Often going past them,Wilko's still has it's shelves in the shop,Debenhams looks almost completely empty,Also got quite a lot of other empty shops in town,We end up loosing most towns in the near future,Most places be turning to online shopping,The Internet be taking over,Any thing in towns what be left open in the near future be any thing next to nothing
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people prefer shopping centres with parking
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Really well thought out and put together explanation of the current situation of high streets. Well done Ladies. Also we need to add a few points such as: new lifestyles changes like minimalism, realisation of unnecessary consumerism, rising living costs and inflation all contribute to the current drop of buying things. Experiences are more important like having a great lunch or dinner with friends, holidays...
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Where I live, I can easily access and park for free at Morrisons, M+S Express, Sainsburys or Asda, where I can busy alsmost anything I need. Otherwise, Internet. No traffic wardens and no CCTV cameras preying on unsuspecting drivers (last time I was in central Glasgow I got fined 50 quid for accidentally taking a wrong turn).
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UK is an Animal Farm with more equal than others permanently occupying No.10😊
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Why go to somewhere like top shop when you can get the same stuff in a supermarket for half the price or less. As for Wilko it was cheap and nasty whenever I went past one it was always empty. Out of town shopping centres. But the main high-street shop killer is online shopping.
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Trouble is, you can't buy what you want in the high street these days. I wanted some brown glazing putty, went down town, tried five stores, took over an hour, several start stops of the car, came back empty handed. Put the kettle on, got onto the internet, ordered the pity in about 2 mins and it arrived two days later.
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An American company based in Ireland has taken most of the business. There's no high street, even with hundreds of stores which can match the selection. The UK is but a dead water in the river of economic progress.
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Outside of London Business rates are often higher or as high as rent. Business rates, leaving the EU and high energy costs have finished off the UK as a first world country.
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Everytime I tried to go shopping over the past 20 years I get harassed by a parking warden. Stopped going and spending my money where I am unwelcome.
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Online shops...... That kill everything that have bricks on their shops
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Shop closures are harming the ability for shoplifters to earn a decent living.
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It's rediculous ground and business rates. Greedy land owners. They only ever increase their demands. What goes up must come down is logic which does not apply to landlords in our feudalist British society. Online outlets like Amazon, google have been given infinite competitive advantages over our stores and retailers. An they continue to avoid taxation.
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I remember during the 80s and '90s lot of rich Arab Sheikhs and their families used to flock to the city of London to buy luxuries and top-notch UK Brands. In Pakistan, people used to show off their fancy products such as sleeping suits, gowns, socks, sweaters garments, etc. Which they purchased at the M&S, St. Micheals and Self-ridges stores. The tourists were the backbone of the London High Street Economy, and most of these stores were packed with Middle Eastern customers carrying large amounts of traveller cheques and cash. Such splurge and irrational exuberance were on display! Harrod looked more like an Arabian Oasis fantasy coming true. Now with the advent of Dubai and other mega shopping malls around the GCC and also in SE Asian nations such as Malaysia, and Indonesia, Arab travellers are spending their petrodollars in those tourist spots. The Exchange rate conversion is also favourable. An overvalued Pound Sterling has made tourism expensive and lowered tourist shopping traffic on the high streets of London in my opinion compared to the 1970s, 80s and 90s.
