The cost of living crisis continues to impact the UK high street, with major retailers like WHSmith, The Entertainer, and Homebase announcing store closures. Over 8,500 retail outlets are expected to shut down in 2025 due to rising costs, decreased consumer spending, and a shift towards online shopping. Some stores are being repurposed or taken over by other chains.
High street favourites including WHSmith and The Entertainer are set to close more stores next year. More than 8,500 retail outlets across the UK shut their doors in 2024, as reported by the Centre for Retail Research. This is largely due to customers having less disposable income following a sharp increase in bills during the cost of living crisis, the Mirror reported. Combined with higher rents and cost for retailers, the high street appears to be struggling.
Three will be transformed into B&M stores while the rest have been purchased by independent chain Samy, which will rebrand them under various names including Budgens, Spar, Londis and Premier. WHSmith will close its Winton branch in Bournemouth on February 15. The retailer previously confirmed it would focus more on travel divisions with around 110 new stores expected in airports, railway stations and hospitals. WHSmith is also opening 37 new Toys R Us concessions inside WH Smith stores.
Retail Cost Of Living Store Closures High Street Economic Impact
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