1,779 stores closed last year in the UK

Retailer store closures surged tenfold 2012

An average of 20 stores closed down every day in 2012, according to a new report by The Local Data Company.

This figure was bumped up to 28 stores per day in the three months to the end of February, driven by the collapse of retail giants HMV, Blockbuster and Jessops.

Last year 1,779 stores shut their doors, compared to just 174 in 2011.

“The end of 2012 and the beginning of 2013 has seen the most dramatic period on record as companies controlling more than 1,400 shops went into administration,” commented Matthew Hopkins, director of The Local Data Company, which complied the report along with PwC.

The southeast was the worst hit region, with a net loss of 376 stores in one year, compared to just five in 2011.

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