14 stores a day closed their doors for good in 2011, study shows

An average of 14 retail outlets across the UK closed down daily in 2011, in a trend likely to interest those in FMCG sales jobs.

According to a study compiled by the Local Data Company on behalf of PricewaterhouseCoopers, there was a net reduction of 174 shops in 2011, with electricals, bookshops and menswear outlets among the hardest hit.

PwC insolvency partner Mike Jervis believes this shifting trend is largely down to the fact retailers have more locations than they need, further exacerbated by the fact consumers are increasingly shopping online.

He said: “A common feature of retailers in distress who we are dealing with is that they have too many locations.

“Relatively long leases have been entered into in a growth phase of the economy which are no longer appropriate.”

Although off-license, pubs and travel shops suffered outlet declines in 2011, sectors that enjoyed a rise included convenience food shops, supermarkets and shoe shops.

There was a slight respite for retailers in January however, with the British Retail Consortium today (February 20th) revealing high street footfall increased 1.8 per cent last month, compared to the same period in 2011.

Posted by Jake Cantrell

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