20,000 UK shops have closed in last decade

More than 20,000 shops have disappeared from Britain’s high streets since 2010, as more and more landlords and property owners choose the repurpose units into homes, restaurants and cafes.

Analysis of official government data conducted by real estate adviser Altus Group has revealed that 20,143 shops have been converted or simply demolished between 2010 and 2019.

Only 14,314 ‘new’ shops have been created during the same period, which means the total number of stores in the UK has fallen by 5,289 between 2010 and 2019. And this number is expected to continue falling, with the Centre for Retail Research forecasting a further decline by 8,500 within the next five years.

Rising business rates, labour costs and low levels of profitability are making it harder for independent retailers and retail chains to survive in an extremely tough market. High street retailers are also facing increased competition from online rivals, which pay lower business rates as their warehouses are usually located out of town.

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