Sharp increase in number of High Street shops closing

The number of shops closing on the high street rose sharply in the first half of the year. Credit: Press association

The rate of shop closures on Britain's High Streets increased by almost 50% in the first half of this year compared to last year, according to a new study.

The decline of the high street accelerated across the board, as betting shops and discount stores gained increasing footholds at the expense of traditional retailers.

Town centres saw 406 net shop closures compared to 209 in the same period last year, research by PriceWaterhouseCoopers (PwC) compiled by the Local Data Company showed.

The study of 500 town centres showed that traditional shops such as shoes and clothes shops declined sharply, whilst "leisure chains" grew.

The collapse of businesses such as Phones 4u and lingerie chain La Senza has brought the total number of closures this year so far - 964 to the end of September - is already two and a half times the number for the whole of 2013.

Mike Jervis, insolvency partner and retail specialist at PwC said: