Chain store closures at the lowest level for seven years | City & Business | Finance

Chain store closures at the lowest level for seven years | City & Business | Finance


Some 6,000 nonindependent stores closed in the first six months of 2022.

That is a third less than the first half of last year and the lowest level for seven years, accountancy firm PwC said. However, shop openings are still below pre-pandemic levels.

It warned that inflation remained a danger.

Kien Tan, director of retail strategy for PwC, said: “The good news is there are more people out shopping and eating. The bad news is inflation hangs over us. So there could be more closures to come.”

While more than 1,000 clothing shops shut in the first half of last year, this time it is betting shops, banks and charity stores that are declining.





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Author: Shirley