High Street closures
About 1 Month, 5 Days, 10 Hours, 40 Minutes ago.
The coronavirus pandemic has thrown Britain's High Streets into crisis, yet the full force of its impact has yet to be felt, according to accountants PwC.
More than 17,500 chain stores and other venues closed in Great Britain last year, according to new data.
That's an average rate of 48 closures a day.
But the figures, which include hospitality and leisure venues, but not independent retailers, suggest the trend began before the pandemic.
The research was conducted by the Local Data Company which tracks vacancy rates in nearly 3,500 High Streets, shopping centres and retail parks.
It recorded 17,532 closures in 2020. It also reported 7,665 store openings. This resulted in a net loss of 9,877 outlets, the worst annual decline researchers have seen in more than a decade.