Over the past two decades, Britain's high streets have experienced a series of significant retail closures that have transformed town centres as we know them. Iconic chains such as Woolworths, Debenhams, Barratts Shoes, and Blockbuster have all vanished from high streets, along with many other nostalgic household names. According to the Centre for Retail Research (CRR), store closures are accelerating, with 34 major retailers collapsing in 2024 alone, impacting over 7,500 stores and nearly 56,000 employees.
A big part of the story is how quickly consumer habits have shifted towards online shopping. As major players like Amazon became more dominant, many traditional brick-and-mortar stores started facing tough competition when it comes to price and convenience. The CRR points out that "the growth in online shopping has meant that many stores were no longer needed," highlighting a significant "structural change" in retail, rather than just a temporary slowdown.
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