UK retailers face massive store closures due to rising costs and shifting consumer habits.

Multiple UK retailers, including Homebase, Dobbies, New Look, and WHSmith, are closing stores before the end of February. Homebase alone plans to close 33 stores. The Centre for Retail Research predicts over 17,000 store closures this year due to higher costs like increased National Insurance contributions and minimum wage hikes. Online shopping, the cost of living crisis, and remote work are also contributing to the decline of high street retail.

2 months ago
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