BIRA calls sharp rate of shop closures 'frightening'

The British Independent Retailers Association has said the sharp rise in shop closures over the past 12 months is 'frightening'.

The association, which works with over 6,000 independent businesses of all sizes across the UK, has remarked on the latest figures released by the Centre for Retail Research (CRR) which has highlighted that 2022 saw 17,000 sites across the UK shut up shop as 'frightening' and 'toxic'.

The figures are the highest number seen in five years for UK high streets, shopping parades and out-of-town shopping parks - and are 50% higher than in 2021. The number of jobs lost has also jumped significantly - with 150,000 posts closed, which has risen by 43% from the previous year.

Andrew Goodacre, CEO of BIRA said: "The number of shops closing is frightening and has accelerated throughout the year. It is due to a toxic combination of reduced consumer spending and rising costs.

"I feel that after three years of dealing with Covid from lockdowns to trading restrictions, and now coupled with the cost of living crisis, that indie retailers are worn out and tired," he said.

However, Mr. Goodacre added: "We can look forward to lower business rates in England and Wales (but not in Scotland where rates are being increased) as from April this year, but that coincides with the end of the energy support scheme. This report shows the urgent need to retain the energy support or 2023 will see many more shops closing."

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