The UK high street looks set for a bit of a revival this year with 12 retailers planning to open new stores. Although the British high street seems set to collapse, with many chains shutting shop over the last few years, a few businesses are actually planning store expansions over the coming months. The British high street has suffered since the Covid-19 lockdowns as reduced footfall and higher costs have forced many retailers to tighten their belts and subsequently shut some brick-and-mortar stores. However, it is always important to note that some retailers close sites for other business reasons and not because they are struggling financially.
According to recent data from the Centre for Retail Research, around 13,479 high street stores closed for good last year, a 28% increase from the previous year. It estimates that around 17,350 stores will close this year as higher National Insurance Contributions (NICs) and increases in the national minimum wage take effect in April.
However, a number of popular chains seem to be weathering the storm and are planning to open new stores in 2025, including Ikea, Waterstones, The Range and many more. Here's a small roundup of 12 retailers opting to push ahead with expansion plans this year.
The Range is planning a huge expansion over the next year, as it plans to open 10 new superstores each month in 2025. The discount retailer is currently in the process of converting up to 70 former Homebase sites after taking them on after the chain fell into administration last year.
