Retailers shutting 32 shops a day on high street

Retail chains are shutting shops at a rate of more than 30 a day across the UK, research has revealed.

Figures show that nationwide retailers closed 32 stores a day in July and August, up from 20 a day in the first six months of 2012 as Britain’s high street suffers amid a consumer spending slump.

High profile administrations of retailers including Game, Peacocks and Clintons saw the number of town centre chain store closures soar to 953 in the first half on a net basis – those closing less those opening.

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This compared with 174 throughout the whole of 2011, according to the study of 500 town centres by the Local Data Company for PwC.

The South East was the worst affected in the first half with 215 net closures, followed by the West Midlands with 160 and the South West with 129.

Towns and cities badly hit included Manchester, Preston, Bristol, Croydon, Sheffield, Derby and Leicester.

Toy shops, clothes stores, gift shops, jewellers, card shops and furniture chains were shutting shops in their droves, the study revealed.

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Among the retailers to have collapsed in recent months, 133 JJB Sports stores are to close across the country despite a deal to sell 20 to rival Sports Direct International.

Many chains are also pulling out of loss-making sites and putting expansion plans on hold to weather tough trading.

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