Wilko, Boots, Iceland and M&S are among the major UK retailers that have announced store closures in recent weeks – with the British Retail Consortium mainly blaming lockdowns and high business rates
The high street is changing massively, with thousands of shops closing down in recent years – including major retailers such as Wilko and Boots.
Research carried out by the British Retail Consortium found that 6,000 shops have closed down for good in Britain in the past five years. Chief executive Helen Dickinson said “crippling” business rates and the impact of lockdowns during the coronavirus pandemic played a role in decisions to close stores, and caution in opening new ones.
The vacancy rate for the UK’s high street now stands at 13.9%, up from 13.8% in the first three months of 2023. This is higher in the North and Midlands, which continued to see “the highest amount of empty storefronts”, Ms Dickinson added. Meanwhile, London’s vacancy rate remains the lowest and has recently improved thanks to the opening of new flagship stores, more office workers and tourists visiting the capital.
But overall, the closing of many shops paints a dark picture for the British high street, and for many workers who have either lost or are set to lose their jobs. And it is not just shops that have fallen victim to closures, but also supermarkets including Iceland and Marks and Spencer.