Why are UK shops closing – and what does it mean for high streets?
From flagship department stores to local independents, the UK’s retail sector is seeing continued closures.
Vacant retail units and closing down signs in Harrogate town centre. Image credits: Charlotte Burley-Hnat.
What’s happening to UK retail?
In recent years, shoppers across the UK have noticed a steady rise in the number of empty shop units on their high streets. In 2024 alone, 34 retail businesses failed, leading to the closure of 7,537 stores and impacting 55,914 employees, according to the Centre for Retail Research.
High streets in particular have borne the brunt of these closures. But what’s driving this, and what might it mean for the future of town centres?
Why are shops closing?
Rising costs
Businesses are facing increased pressure from rent, ...