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

Courtesy: European Commission/European Union

Textiles | On 26th May 2018

EU set to negotiate FTAs with Australia & New Zealand

The European Union is all set to begin negotiations for free trade...

US bans import of cotton goods from Turkmenistan

Textiles | On 26th May 2018

US bans import of cotton goods from Turkmenistan

The US Customs and Border Protection (CBP) has issued a Withhold...

FPCCI prepares report on Pakistan's export issues

Textiles | On 26th May 2018

FPCCI prepares report on Pakistan's export issues

Federation of Pakistan Chambers of Commerce and Industry (FPCCI)’s...

Interviews View All

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Top executives
Textile industry

The foremost issue is bridging the skill gap

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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

Leave your Comments


May 2018

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

news category


Related Categories:

Advanced Search