18 high street shops closing per day

Town centres are continuing to suffer despite the upswing in the economy, a leading accountancy firm has found.

High street shops were closing at a rate of 18 per day during the first half of 2013, with charity stores, betting shops and cheque cashing outlets filling the void.

Closing down
British high streets are still suffering a decline despite the burgeoning economic recovery, PwC said. Credit: PA

A study of 500 UK town centres from accountants PwC compiled by the Local Data Company showed 3,366 outlets closed in the six-month period, compared with 3,157 openings, a net reduction of 209 shops.

Video and photography and women's fashion shops suffered the biggest drop in numbers.

Mike Jervis, insolvency partner and retail specialist at PwC, explained: "Upticks in areas such as cheque cashing and pawnbroker reflect a society where a sizeable part of the population is forced to turn to these types of borrowing for basic needs."

Read more: Half of retailers will shed jobs


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