Ellie Ames 02 January 2025

37 shops lost each day in 2024, data suggests

37 shops lost each day in 2024, data suggests image
Image: William Barton / Shutterstock.com

Almost 13,500 retail stores in the UK closed for good last year, equivalent to about 37 shops a day, new data has found.

A ‘brutal’ year for the retail sector saw 28% more closures than the 10,500 in 2023, according to the Centre for Retail Research.

Independent retailers, typically smaller businesses with between one and five stores, were particularly hard-hit, with 11,000 shops shutting down – 84% of all closures.

Commercial real estate firm Altus Group warned that the Government’s planned cut to the business rates discount in April would make survival for retailers even tougher.

The cut to the discount from 75% to 40% will see the average shop’s business rates bill ‘spiral’ from £3,589 to £8,613 over the next financial year, the group warned.

The firm’s president of property tax, Alex Probyn, branded the move ‘foolhardy’, adding: ‘despite Labour’s manifesto recognition of the undue burden business rates place on our high streets, that burden will be significantly increased’.

The Centre for Retail Research forecast that 17,000 more shops would shut permanently in 2025.

SIGN UP
For your free daily news bulletin
Highways jobs

Revenues and Benefits Administration Officer

West Northamptonshire Council
£26914 - £27781
The Revenues and Benefits Administration Officer at West Northamptonshire Council provides essential administrative support across the Revenues and Benefits team. The role involves managing emails, indexing documents, raising orders and supporting financi Northampton
Recuriter: West Northamptonshire Council

Strategic Commissioning Manager (Markets Team Manager)

The Royal Borough of Kensington & Chelsea Council
Negotiable
Drive real change in your community - shape the future of careDrive real change in your community - shape the future of careAt the Royal Borough of Ke England, London, City of London
Recuriter: The Royal Borough of Kensington & Chelsea Council

Social Worker - Family Finding, Adoption Mid Essex

Essex County Council
£34902.0000 - £50081.0000 per annum
Social Worker - Family Finding, Adoption Mid EssexPermanent, Full Time£34,902 to £50,081 per annum Location
Recuriter: Essex County Council

Sheltered Housing Officer

The Royal Borough of Kensington & Chelsea Council
£33291 - £34291 per annum
Support residents to live independently in safe, welcoming homes - making every day easier, safer and more connected.Support residents to live indepen England, London, City of London
Recuriter: The Royal Borough of Kensington & Chelsea Council

Team Leader

Durham County Council
Grade 8 £32,597 - £36,363
Salary
Recuriter: Durham County Council
Linkedin Banner