As rising prices lead to the threat of a recession and the habits of consumers continue to change, popular high street retailers have announced they are scaling back their stores. The likes of Boots, New Look, B&Q and TK Maxx have all announced closures.
Hospitality is affected too. Pub chain Wetherspoon has confirmed the sale of nine venues, with another 35 having been put on the market, while branches of Byron Burger are set to disappear as well.
In addition, 22 branches of Lloyds Bank and 18 Halifax sites are due to shut in 2023. According to the Centre for Retail Research, around 15,000 stores across UK high streets are expected to disappear this year.
