Britain's high street dwindles with 15 closures every day in first half

The number of traditional retailers in Britain are declining at the fastest rate in four years with 2,656 closures in the first six months of the year, according to a report by PwC and the Local Data company (LDC).

The rate of closures was bumped up to 15 a day compared to 14 in the previous period. This led to the biggest decline since the first half of 2012 with a net of 503 shops vanishing from the high streets during the period.

Conversely the number of new openings fell to its lowest level in five years 2,153 the lowest since 2011 from 2,197 in the previous period. Only 119 fashion shops opened compared to the 206 that closed, leading to a net decline of 87.

Greater London recorded the biggest net drop in the country with 164 shops closures, which could be due to rising business rates in the area. The lowest number of closures was recorded in the North-East of England at five closures. Meanwhile there were no increases in openings reported by any area in the UK.

The report by the accountancy firm and data company includes the collapse of BHS into administration, however the last 22 of BHS’ 164 shops did not close until the end of August.

Tobacconists, estate agents and jewellers on the other hand seem to be taking over. Tobacconist outlets increased by a net of 28 with 60 openings and 32 closures, while estate agents added 26 sites and jewellers 24.

Director of the Local Data Company Matthew Hopkinson said: “The spaces left by the traditional occupants of our high streets are being increasingly filled by health care operators, food and beverage operators and the ongoing rise of the discounters.”

High streets across the UK are also under pressure from the movement towards online shopping, declining household income, increasing business rates and rising national living wage pushing up costs.