13,000 shops shut down last year with 'worse to come

MORE than 13,000 high street shops closed for good last year and experts warn worse is to come in 2025 due to Budget changes.

- Henry Saker-Clark

Centre for Retail Research data shows closures jumped by more than a quarter on 2023. It also predicted more local stores will shut this year as National Insurance rises and higher wages take their toll.

The analysis found 13,479 shops closed down over the calendar year - that is 37 a day and 28% up on 2023. The vast majority were small independent retailers where pandemic-era financial aid was cut.