In the last ten years, over 120,000 shops have shut down in the UK, a recent study revealed. This significant drop in retail outlets coincides with the disappearance of various other businesses in many communities. Among these closures are nearly 6,600 bank branches that closed between 2016 and 2025, according to research conducted by Parcelhero, a package price comparison website.
Parcelhero’s latest report on the state of the high street, a follow-up to a previous study from four years ago, predicted the closure of around 100,000 stores by 2030. However, the actual number of physical store closures between 2016 and 2025 was estimated at 122,682, according to the report.
Numerous well-known retailers have vanished from the high street since 2016, including Jaeger, Toys R Us, Maplin, Mothercare, Thomas Cook, Debenhams, Laura Ashley, Paperchase, Homebase, Ted Baker, and Oddbins. The report highlights a sharp decline in department stores, with 83% of those existing in 2016 no longer operating.
The impact of online competition and rising costs has been cited as the common cause behind the demise of many department stores and other retailers. The COVID-19 pandemic further exacerbated the situation, leading to the permanent closure of numerous stores that struggled to recover.
House of Fraser, which went into administration in August 2018, serves as an example of a department store hit by closures. Similarly, Sir Philip Green’s Arcadia empire, which included Topshop, Burton, and Dorothy Perkins stores, collapsed, resulting in the closure of thousands of clothing outlets.
The report warns that high street closures are not over yet and mentions the struggles faced by TG Jones, formerly known as WH Smith’s high street arm, which is planning significant store closures. Additionally, Morrisons, a supermarket chain, is set to shut down 100 stores in response to increased operating costs due to government policies.