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Shop closures hit record levels as rescue deals hurt high streets 

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For sale signs in shop window
Credit: Mike Kemp/Getty

Shops are shutting at a rate of up to 16 a day across the country, with closures hitting record levels as the crisis engulfing the high street escalates. 

The first half of this year saw 2,868 store closures, almost twice as many as openings, as retailers increasingly resort to controversial rescue deals to cut rents and shut unprofitable stores. 

The net fall in the six-month period was 1,234 sites, the highest number in nine years, with fashion retailers, pubs, bars and restaurants the worst hit, according to PwC and the Local Data Company.

Bricks-and-mortar retailers have been struggling with rising business rates, fewer shoppers visiting stores and a shift to online orders.

Businesses including...

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