0800 644 6080
Call FREE from Landline and Mobile
Est. 1989

Independent Retail Closures Tracked at Record High in First Half of 2018

Written by: Keith Tully

Published: 4th December 2018

Independent Retail Closures Tracked at Record High in First Half of 2018The number of independent retailers who closed down outlets during the first half of this year reached a record high level for any comparable period.

According to the British Independent Retailers Association (BIRA), there was an increase in the number of independent units opened between January and July this year but there was also a much sharper rise in the numbers being closed down.

In fact, BIRA’s latest data indicates that there was a net decline of 1,554 independent retail outlets over the course of the first six months of this year.

Sectors found to be particularly in decline in the first half included estate agents, newsagents, fashion shops and women’s clothing stores.

On the other hand, sectors which saw growth this year, even while the wider retail sector was struggling, included barbers, beauty salons, tobacconists and mobile phone stores.

Regions which saw the sharpest declines in their number of independent retail outlets were Yorkshire and the Humber and London.

BIRA’s chief executive Andrew Goodacre has said that the latest figures, compiled in conjunction with the Local Data Company, illustrate exactly the problems that independent retailers across Britain are currently facing.

“Despite more businesses opening, we have seen more closing, resulting in a net loss from the high street,” he said in a statement.

“BIRA have been saying for a long time that independent retailers need support from local and national governments.

“The recent Budget announcements regarding a rates reduction and the setting up of a high street fund are very welcome and we hope it is not too late to provide a lifeline to these important businesses.”

According to BIRA, independent retail and leisure operators account for around 65 per cent of all the outlets currently to be found across Britain.

The retail sector as a whole has been enduring a tough time throughout 2018, with several very well-known high street brands having collapsed into administration and shut down their entire operations.

Analysis carried out by the Press Association earlier this year estimated that close to 50,000 jobs were lost within the UK’s retail sector as a whole during the first six months of this year.

Keith Tully

Keith Tully

Join Keith Tully on Linked In Follow Keith Tully on Twitter

Keith has been involved in Business Rescue since 1992, during which time he’s worked for both independent and national firms. His specialties include company restructuring matters and negotiating with HMRC on his clients behalf.

Meet our Team of Experts
Director Support - Business suffering from Cash-Flow Problems?
If your company is financially distressed, we also offer the below services:
Business debt recovery

  • Recover Unpaid Invoices of £5k+
  • Expert Credit Control Services
  • Stop Late Payers & Bad Debts
Visit Site
Time to pay experts

  • Get Breathing Space with HMRC
  • Support with Business Tax Arrears
  • 35 Years HMRC Negotiation
Visit Site
UK Business Finance

  • Rejected for a CBILS Loan?
  • Get Emergency Business Funding
  • Supporting 1000+ UK Companies
Visit Site
Who we help
  • Company Directors
  • Finance Directors
  • Sole Traders
  • Accountants
  • Small Businesses
  • Large Businesses
  • Partnerships
Contact our team
Jonathan Munnery
Gillian Sayburn
Julie Palmer
or Find your Nearest Office

Here at Real Business Rescue we take your privacy seriously and will only use your personal information to contact you with regards to your enquiry. We will not use your information for marketing purposes. See PRIVACY POLICY

Business Rescue Advice for Directors
Free Guide for Limited Company Directors
Business Rescue Advice for Directors
  • How to manage company cash flow problems
  • Advice on dealing with HMRC
  • Understanding rescue and closure options
  • And much more...
Free Guide Download
Dealing with your Insolvent Clients
Business Rescue Guide for Accountants
Dealing with your Insolvent Clients
  • Helping you advise insolvent clients
  • Spotting signs of client distress
  • Exploring business rescue options
  • And much more...
Free Guide Download
Our numbers speak for themselves
Number of UK Offices
Directors Helped
Licensed Insolvency Practitioners