Chain stores are closing at their slowest rate for eight years
"What we've seen in the last year is that high streets are more important than ever as a place where we work shop and play. These figures are testament to that," said Kien Tan, Senior Retail Adviser at PwC.
As the chart below shows, there are still far more closures than openings. That resulted in a net loss of 10 outlets a day, on average, in 2022. Openings are heading in the right direction but are still well below pre-pandemic levels. Or putting it another way, of the 10 net closures a day last year, three of them were banks as the huge shift to online continues. Around 5,000 banks have closed since 2015.Lucy Stainton, commercial director for the Local Data Company which collected the data, said there was a continuing demand for food on the go and home delivery after the pandemic.
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