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High street shop numbers fall

High-Street-generic-THUMB.jpegThe number of high street shops has fallen by 11% since 2008, according to research by law firm Nockolds.

According to an analysis of business births and deaths in the retail sector, there are currently 143,170 high street retailers, down from 161,485 in 2008, the year the recession started.

The number of high street retailers fell by 0.8% in the last year, from 144,380, compared with an annual rate of decline in the four prior years of more than 2%.

The number of supermarkets and department stores has risen from 42,230 to 42,735 since the recession.

The research also reveals that the number of e-commerce retailers has jumped by 70.4% over the same period, from 19,760 to 33,675.

Sean Fitzgerald, partner at Nockolds, said: “The squeeze on consumer spending has hit specialist, high street shops hardest. The ongoing expansion of the convenience store format by the major supermarkets continues to take its toll on independent retailers.”

amber.rolt@estaesgazette.com

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