10,500 UK store closures in 2023, impacting high street shopping and leading to 119,000 job losses.

Several major UK retailers, including House of Fraser and Marks & Spencer, are closing stores in November, further impacting high street shopping ahead of Christmas. The Centre for Retail Research reported nearly 10,500 shop closures in 2023, leading to 119,000 job losses. In 2024, 1,846 additional closures and nearly 24,000 job losses were recorded in the first half of the year, driven by reduced foot traffic and high rents.

October 29, 2024
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