More than 1,400 chain stores closed in West Midlands last year
The West Midlands saw 1,468 chain stores close permanently last year at retail locations.
Nationally more than 17,500 closed in 2020 with a net loss of 9,877 with new openings at 7,655, according to research for professional services network PricewaterhouseCoopers.
Daily 48 chain stores were closing with only 21 opening.
The West Midlands had 600 openings in 20202 meaning a net loss of 868 for the region.
Although a decline was to be expected in a pandemic, the fall was the worst seen since 2015 when West Midlands shop openings were 1,152 with closures at 1,120, showing a net growth of 35.
It was the last time there was growth over the last five years. PwC says the real impact of the pandemic is yet to be felt as some stores ‘temporarily closed’ during lockdowns, are unlikely to return.
Retail parks saw the smallest number of net closures of any location (93) in the West Midlands, compared to shopping centres (285) and faring worst of all high streets (487).
Fashion retailers were the hardest hit last year, with more than 1,100 disappearing, as names such as Laura Ashley, Warehouse, Oasis and Jaeger exited the high street.
Only some Debenhams stores are included in the numbers, and the permanent closure of dozens more as well as Arcadia Group’s brands, including Topshop, Dorothy Perkins and Burton, will be a further blow to town centres this year.
