More shops are forecast to close this year than ever as the looming increase in business rates adds to retailers’ woes.
Last year 13,479 shops pulled down their shutters for the final time, data from the Centre for Retail Research shows, a 28 per cent increase on 2023.
Carpetright, which had 273 stores, was among those that collapsed last year, although 54 of its shops were taken over by Tapi Carpets & Floors, a rival. The Body Shop fell into administration in February which resulted in 82 of its high street shops being closed, while Homebase, which had 130 shops across the country, went bust in November. About half of its stores were bought by the group behind The Range.
On average, 37