Swathes urban areas across Britain are becoming ghost towns as shop of shop shut their doors for good.
Retailers are warning the rapid rise of online shopping – along with soaring business rates and hikes in rent – is wiping out hundreds of town centres.
Pubs, police stations, bank branches have all also fallen victim to the changing times.
The new warning comes after 5,500 jobs were put at risk following the collapse of Toys R Us and Maplins last week.
Retailers are warning the rapid rise of online shopping – along with soaring business rates and hikes in rent – is wiping out hundreds of town centres. Pictured: Burslem, in Stoke on Trent
Pubs, police stations, bank branches have all also fallen victim to the changing times. Pictured: Burslem,in Stoke on Trent
Richard Hyman, an independent retail analyst, said 2018 could be a devastating year for the retail industry. Pictured: Stoke on Trent
And restaurant chain Prezzo, which employs around 4,500 staff, announced the closure of around a third of its outlets in a rescue bid.
Richard Hyman, an independent retail analyst, said 2018 could be a devastating year for the retail industry.
Mr Hyman believes further closures could be announced as chains struggle to meet rent and rate demands.
‘It’s only weeks before Quarter Day, when most retailers pay rent, and a lot of finance directors will be increasingly anxious. More closures are inevitable,’ he told The Mirror.
Mr Hyman believes further closures could be announced as chains struggle to meet rent and rate demands. Pictured: Burslem, Stoke on Trent
The devastating impact on shops is nowhere more prevalent than in Burslem, Stoke-on-Trent (pictured), which was named the country’s worst performing town
Many retailers are also ‘in denial’ over changing shopping trends, he added.
‘They take customers for granted. Around 15 years ago retail spending online was pretty much zero. Now it’s well over £50billion a year.
‘Most of that has been cannibalised from shops.’
The devastating impact on shops is nowhere more prevalent than in Burslem, Stoke-on-Trent, which was named the country’s worst performing town.
Almost a third of shops in the town are empty.
‘It’s only weeks before Quarter Day, when most retailers pay rent, and a lot of finance directors will be increasingly anxious. More closures are inevitable,’ said Mr Hyman
Almost a third of shops in the town are empty. Pictured: A street in Stoke on Trent
Burslem’s branch of Lloyds has also announced its closure, which follows the recent departures of NatWest and Boots. Pictured: Closed shops in Stoke on Trent
Once bustling with family-run shops, the old Potteries town used to be the home of Josiah Wedgwood’s first factory in the 18th century.
But the town’s decline was accelerated following the closure of big ceramics companies such as Royal Doulton, in the 1990s.
Now, many of the stores are boarded up and plastered with ‘to let’ signage.
Burslem’s branch of Lloyds has also announced its closure, which follows the recent departures of NatWest and Boots.
Those independent businesses which still stand, who are only open on certain days, blame a lack of free parking.
The rising cost of living, a weak economy and frozen wages, as well as the rise of the internet, shopping centres and retail parks, has worsened the situation, says Mr Hyman
But Stoke city council argues retailers could be encouraged back to the town thanks to spending £10million on developing brownfield sites for 1,100 new homes, which the authority believes will increase footfall.
Stoke-on-Trent is followed by Dewsbury, West Yorkshire, with a 29.1 per cent closure rate and Newport, South Wales, at 27.2.
The rising cost of living, a weak economy and frozen wages, as well as the rise of the internet, shopping centres and retail parks, has worsened the situation, says Mr Hyman.
He accused councils of using high streets as ‘cash cows’ by enforcing exorbitant parking charges and business rates.