27-Apr-2018
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High street store openings fall to seven-year low in the UK

LONDON April 13: New high street store openings have fallen to their lowest level in seven years, figures suggest.
 
They fell by 10% from 4,534 in 2016 to 4,083 in 2017 - the lowest since 2010, according to research by the Local Data Company (LDC) which studied the top 500 town centres across Great Britain.
 
A total of 5,855 high street stores closed last year - an average of 16 every day. In comparison, an average of 11 opened each day. This is down from 12 in 2016 and 15 in 2013.
 
Beauty salons, coffee shops, cafes, tearooms and ice cream parlours bucked the trend, while bookshops and vaping outlets also remained popular.
 
Stores have been struggling as rising inflation combined with sluggish wage growth means consumers' spending power is shrinking.