The high street shops and retailers we've lost in 2023
30.12.2023 - 07:51
/ manchestereveningnews.co.uk
The UK has lost a number of popular shops this year, as our high streets continue to shrink.
More retail giants have been brought to their knees amid continuing supply chain issues, record levels of inflation, and the cost-of-living squeeze impacting consumer spending. The prolonged economic uncertainty has pushed more retailers to the brink this year resulting in store closures and job losses.
According to the latest data from the Centre for Retail Research (CRR), 4,124 stores have closed and 56,436 retail jobs have been lost as of September this year. With reporting from BusinessLive, we've taken a look at the businesses which have gone under this year.
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Some retailers on the list may be continuing to trade as online-only or have since been acquired out of administration.
The fall of Wilko is considered to be the largest retail failure since Woolworths in 2008, given the chain's size and scale. The major retailer - which is headquartered in Worksop, Nottinghamshire - employed 12,500 staff members and ran 400 shops before it appointed PwC as administrators in August amid pressures from weak consumer spending and debts to suppliers.
Discount chain B&M agreed to buy 61 Wilko stores while Poundland-owner Pepco agreed to buy up to 71 shops. The brand name 'Wilko' and the company's IP was purchased by The Range, in a deal understood to be worth £5m.
Wilko's website was relaunched in October, while three stores - in Plymouth, Exeter and Luton - reopened earlier in December. Two more stores are expected to reopen