The rate of shop closures in town centres has slowed, offering a glimmer of hope to retailers and landlords.
According to research carried out by PwC and the Local Data Company, town centre shops closed at a rate of 18 a day in the first six months of the year, compared with 20 a day a year ago.
Video and photography shops suffered the worst falls, while hearing aid and charity shops opened the most outlets.
There was a net reduction of 209 shops, compared with 953 in the first six months of 2012.
The study, which looked at 500 town centres, illustrates the changing profile of Britain’s High Streets.
There were nearly 500 net closures of clothing, furniture, shoe, video and photographic shops, but net openings of 97 charity shops, 62 cheque cashing outlets, 53 book makers and 52 grocery convenience stores.
Mike Jervis, retail specialist and insolvency partner at PriceWaterhouseCoopers, the accountancy group that co-authored the study, said the results partly reflected the collapse into administration of camera specialist Jessops and video retailer Blockbusters at the start of the year.
“The shifts in multiple retailers’ store portfolios are a barometer for changes in our society and its habits,” he said.
“Upticks in areas such as cheque cashing and pawnbrokers reflect a society where a sizeable part of the population is forced to turn to these types of borrowing for basic needs.”
Director of the Local Data Company, Matthew Hopkinson said it was “good news” that the rate of shop closures was reducing.
“That said, closer examination of the data shows the significant on-going decline of traditional shops with food, beverage and entertainment taking their place.
“The pressure from online competitors, supermarkets and ‘out of town’ providers will only increase,” he added.
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