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Leisure outlets are replacing fashion and finance on the UK high streets

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According to new research leisure outlets are replacing banks and clothing stores on the UK high street.

The Local Data Company (LDC) research for PwC found that even though 4,534 stores opened in 2016, a total of 5,430 closed. This is a net loss of 896.

Many banks and fashion stores have been focusing on getting consumers online.

The spaces that have closed down are being replaced by health clubs, vape shops and jewelers. Coffee shops and fast food outlets are also moving into these empty spaces.

Mike Jervis, retail specialist at PwC, said: “Last year was relatively benign for restructuring and insolvency in all sub-sectors of retail, so the net closures point to structural changes in customer behaviour more so than a consumer slowdown.”




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