Britain’s retail apocalypse: why your favourite stores KEEP closing down
Some of the biggest names on the high street have been forced to reduce their presence on the high streetBut the shop is set to close up today. Locals in East Grinstead have hit out at the latest closure to hit the high street.
Some of the biggest retailers in the UK have been forced to withdraw their presence on the high street over recent years. Chains and independent stores alike have all suffered. In particular many independent restaurants and bars lost too much money during lockdown and have failed to recover their losses, despite help from the government.Almost 500 staff are set to lose their jobs after 75 stores have been earmarked for closure over the next few weeks.
However, it was not all bad news for M&S shoppers as where some stores closed, others opened up in new locations.confirmed it would be opening up 15 new shopsRETAILERS have been feeling the squeeze since the pandemic, while shoppers are cutting back on spending due to the soaring cost of living crisis.costs and a move to shopping online after the pandemic are also taking a toll, and many high street shops have struggled to keep going.
"The cost-of-living crisis, inflation and increases in interest rates have led many consumers to tighten their belts, reducing retail spend," Prof Bamfield said.
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