British high streets have changed significantly in recent years with major players including Topshop , Debenhams and House of Fraser having departed. Now a fresh wave of store closures will see four big brands shut physical shops to keep up with the ever-changing retail landscape. Speaking exclusively to Express.
co.uk, Helena Davies, head of retail and a specialist property litigator at law firm Brabners commented: "Last week, new figures published by PwC indicated that Britain’s bricks and mortar retailers are closing 12 stores more than they are opening each week - this in a period when towns and cities have seen footfall decline for 13 months in a row. "Those businesses that are currently struggling, large and small, are in the main doing so due to the increased cost of having a physical footprint, as well as the impact of the cost-of-living crisis on demand.
"Both have proved challenging for those with less flexible business models, contributing to insolvencies in the sector being up 18 percent on this time last year." As for the stores closing this month, fashion giant Bonmarché is preparing to bid farewell to its branch in Arnold, Nottingham, this weekend. It follows several stores that have already pulled the shutters this September, including New Look, Beales, Clarks and WHSmith .
Bonmarché The fashion retailer is locally valued in Arnold, Nottingham and shoppers have been left disappointed at the news of the closure this Sunday, September 22. It even sparked a .