Over 17,000 retail shops have closed in 2022, including 11,000 independent and 6,000 multiple sites, the Centre for Retail Research (CRR) has revealed.
The year has seen sharp rise in shop closures, with the figure being the highest number seen in five years for UK high streets, shopping parades and out of town shopping parks.
It represented a 50 per cent increase from 2021, when the number of store closures stood at nearly 11,500.
The number of jobs lost has also jumped significantly - with over 150,000 posts closed, which has risen by 43 per cent in the previous year. Multiples accounted for half of these jobs, with over 76,000 jobs lost. Independent job losses numbered over 53,000.
Responding, the British Independent Retailers Association (BIRA) termed the latest figures as ‘frightening’ and ‘toxic’.
“The number of shops closing is frightening and has accelerated throughout the year. It is due to a toxic combination of reduced consumer spending and rising costs,” Andrew Goodacre, BIRA chief executive, said.
“I feel that after three years of dealing with Covid from lockdowns to trading restrictions, and now coupled with the cost-of-living crisis, that indie retailers are worn out and tired.”
Goodacre called on the government to continue with the energy support beyond March to support the struggling sector.
“We can look forward to lower business rates in England and Wales (but not in Scotland where rates are being increased) as from April this year, but that coincides with the end of the energy support scheme. This report shows the urgent need to retain the energy support or 2023 will see many more shops closing,” he said.
