Britain’s high streets have suffered a devastating blow over the past ten years, with research from Parcelhero revealing that an estimated 122,682 physical shops have permanently shut their doors.
The package price comparison website’s latest analysis also found that communities lost nearly 6,600 bank branches between 2016 and 2025.
This new study follows Parcelhero’s earlier report from four years ago, which predicted approximately 100,000 store closures would occur by 2030.
Familiar names that have vanished from shopping centres include Jaeger, Toys R Us, Maplin, Mothercare, Thomas Cook, Debenhams, Laura Ashley, Paperchase, Homebase, Ted Baker, and Oddbins.
Store closures have been an issue for the UK economy
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GETTY
Department stores have been particularly devastated, with the Parcelhero report showing that 83 per cent of those operating in 2016 have now disappeared.
The sheer scale of these premises means their closure frequently creates conspicuous voids in town centres, with many sites remaining vacant and boarded up, damaging surrounding areas.
David Jinks, Parcelhero’s head of consumer research, said: “Ten years ago, we warned that department stores faced extinction unless they fundamentally reinvented themselves for the digital age.
“Sadly, for most of the sector, that reinvention never came. This is not a story of retailers that were unlucky it is a story of a sector that, with a few notable exceptions, failed to adapt to a world that had moved on.”
Britain’s high streets have struggled in recent years | PA
The high street has been hit with store closures in recent months. | PA
The coronavirus pandemic delivered a further crushing blow, with Mr Jinks noting: “For many stores, the pandemic proved the final nail in their coffin.”
House of Fraser entered administration in August 2018, with Sports Direct subsequently acquiring the chain. However, its footprint has shrunk dramatically from 59 locations to just 23 today.
The clothing sector has witnessed thousands of shop closures over the decade. Sir Philip Green’s Arcadia group represented one of the most significant casualties, taking Topshop, Burton and Dorothy Perkins stores with it.
The Parcelhero report cautions that the battle for high street survival is far from finished.
Over 150 retail and hospitality companies were insolvent so far | GETTY
TG Jones, the rebranded version of WH Smith following the sale of its high street division, faces significant upheaval.
Such cuts would put thousands of positions at risk across its 5,000-strong workforce.
Morrisons has also unveiled intentions to shutter 100 stores in the coming months, with the supermarket chain attributing the decision to government policies that have driven up operating costs.