A little over 5,500 of the shops went under, while more than 11,600 of them were closed as a larger chain decided to cut its costs.
However, a 56 per cent drop in shops being closed was observed last year as larger retailers—with 10 or more sites—went out of business.
The centre’s director Joshua Bamfield said the trend is likely to continue this year, but added that a few ‘big hitters’ could also go under.
Over 151,000 retail jobs were lost in the United Kingdom last year, including from online retailers, the analysis found. This was an increase of more than 45,000 on the year before.
ALCHEMPro News Desk (DS)
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