According to research, half of the closures on Britain's High Streets in the first half of this year occurred in pharmacies, bars, and banks.

As of now in 2024, 6,945 businesses have closed altogether, or 38 stores a day.

There is only a net closure of 12 stores every day when new stores are taken into account, which is somewhat more than during the same period last year.

According to data from accounting company PwC, between January and June, an average of 18 pharmacies, 16 bars, and 9 banks closed each week.

However, just one chain of coffee shops and three convenience stores replaced them, underscoring the significant changes that town centres are undergoing.

Eleven stores a day suffered net closures last year.

The information includes companies with more than five locations, ranging from banks, hair salons, and retail stores to hotels and gyms. Independent dealers are not included in this.

Even while there were more than 4,600 new stores established compared to the same time last year, it wasn't enough to offset the number of companies that closed.

This translates to a decrease of over 2,000 outlets, which is somewhat greater than it was the year before.

As Boots closed stores and the Lloyds Pharmacy chain completely vanished, chemists took the lead in the closures.

As supermarkets such as Morrisons and Asda established additional locations, convenience shops emerged as the category with the strongest performance.

For restaurants and takeout, the first year has also been difficult. Following a year of expansion, the hotel industry is facing a decline in demand and increased prices, which has resulted in several closures in these categories.

One positive development was the expansion of retail parks, where chains added extra space and new drive-throughs that were in high demand for the second year in a row.

(Sources: bbc.co.uk)