Home / Knowledge / News / Apparel/Garments / Retail chain outlet closures soar in UK: Report
Retail chain outlet closures soar in UK: Report
01
Mar '13
The number of outlets shutdown by various retail chains, including apparel retail chains, in the UK increased to an average of 20 shops a day, says an analysis by PwC and the Local Data Company (LDC).
 
The survey, conducted in 500 town centres across the UK, found that the spate of closure of retail outlets in Britain increased during the last quarter of 2012, when many household names went into administration.
 
In the whole year, a total of 7,337 stores owned by retail chains closed in the UK, compared to opening of 5,558 new ones, a decline of 1,779 outlets, a 10-fold increase over the previous year.
 
Womenswear stores and general clothing stores were among the top categories of outlets to be shutdown during the year. While there were 175 less women’s apparel shops at the end of the year, the number of general clothing stores decreased by 120.
 
Analysis of the three months between December 2012 and February 2013 shows that the potential rate of closures – principally through administrations – would accelerate to 28 per day for this period, the PwC statement said.
 
The highest number of net closures was in the southeast of England, where 1,278 new store openings were reported compared to closure of 1,654 outlets, the survey said.
 
Mike Jervis, insolvency partner and retail specialist at PwC, attributes the closures to “too many stores and too little multi-channel activity.” He expects the downward trend to become even worse in 2013.
 
Christine Cross, chief retail adviser to PwC said there is still a need for retailers to address cyclical cost increases and, even more, structural changes in ways of doing business.
 
This is the age of the total retail experience and it demands a very different operating model to be successful, the statement adds.
 

Fibre2fashion News Desk - India


Must ReadView All

Apparel/Garments | On 25th Jun 2017

Half of 7,000 new apparel online each day target women

Adobe has released its first Digital Price Index for apparels,...

Textiles | On 25th Jun 2017

First Insight, Chico's FAS enter partnership

First Insight, a technology company transforming how retailers make...

Apparel/Garments | On 25th Jun 2017

Expand changing use of social and web resources

With over 400 million impressions to date and web traffic of over two ...

Interviews View All

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search