The UK high street is set to change drastically with over 1,100 of the most famous stores due close for good and over 40,000 jobs lost, but which city or town will be hit the hardest?
A new study by Ask Traders has analysed which of the UK’s high-streets will be impacted the most by the closure of iconic brands such as Debenhams and Cath Kidston. Whilst also discovering which high-streets have seen the least impact in terms of a number of store closures.
The analysis calculated the number of stores due to close in as a result of businesses such as Debenhams, Monsoon Accessorize and Cath Kidston closing their doors. The cities with the most amount of closures were then deemed the most at risk.
Based on the study, London has seen the most store closures with over 128 stores closing their doors in the capital. This is based on the closure high-street favourites Monsoon/Accessorize and also restaurant chains such as Carluccios.
The northern city of Manchester is the second city in the UK who’s high-street will be declining the most with over 54 stores closures, this was closely followed by Glasgow (35 store closures) and Leeds with (34 store closures)
The data also revealed which 20 high-street’ towns and cities in the UK are least at risk of collapse due to COVID-19. Bedford, Chester and Guildford made the top spot with 11 other towns that will see the least impact with only 1 store closing.
The study is a promising sign for some towns in the UK who won’t be shattered by the current pandemic.
Nigel Frith, senior market analyst at https://www.asktraders.com/ said:
“This pandemic has seen household names such as Debenhams and Cath Kidston close. Both of these are long-standing members of the high-street.
It’s evident that COVID-19 hasn’t stopped for any retail name, with more obvious financial hits than others. It’s also surprising that these brand names haven’t fallen into any trouble sooner.
Looking forward, more high street brands will probably fail over the coming days, weeks and even months after COVID-19. What were once-popular high street names offering classic and seasonal pieces might have to join Debenhams and Laura Ashley. Question is, who’s next?”