FIVE stores a week closed across some of Scotland’s largest towns and cities in the first six months of 2015, according to PwC research compiled by the Local Data Company.
The analysis claims that 121 stores owned by multiple retailers shut up shop, with only 95 opening – a net reduction of 26 stores. During the same period in 2014, 133 new stores opened, a move that helped to minimise the overall high-street impact after 140 outlets pulled down their shutters.
Over the first half of 2015, only Perth and Edinburgh (including Leith) reflected a net increase, albeit by just one store. In the first half of 2014, Edinburgh recorded a net loss of two stores, with Perth remaining stable with a net uplift of three stores.
In contrast, the remaining locations reported a net reduction in outlets, with Falkirk and Glasgow reporting the biggest losses.
According to Martin Cowie, head of private business at PwC in Scotland, store portfolios continue to be reviewed and streamlined in response to the “relentless advance” of online shopping.
Director of The Local Data Company, Matthew Hopkinson, added: “We are seeing the continuing decline of pubs and clothing shops while seeing previously expansive sectors such as banks, betting shops and cheque-cashing all in retreat from the high street.”
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