Nine high street chains closing shops in January including Greggs and Cineworld
Share:
Eight major retailers will be closing sites this month - with some set to shut more than one. The British high street has suffered over the last few years. Reduced footfall and higher costs have forced many retailers to tighten their belts and close some of their brick-and-mortar sites. 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.
Sadly, the closures are coming earlier, with a handful of popular high street chains closing sites this month. Here we have listed all of the retailers with sites pulling down shutters over the coming few weeks. The Body Shop is set to close its Sheffield branch this month after 30 years in the city. The skin and beauty retailer will close its store on Orchard Square on January 15.
Sadly, it's not the only Body Shop closing this month, with the retailer's site on Castle Street in Norwich shutting down on January 15 after 44 years of business. Last year, the Body Shop made headlines after falling into administration. At the time, the retailer made around 800 members of staff redundant and closed 82 shops in the following weeks. The chain was then rescued from administration in September by Aurea Group. At the time the deal looked set to help its 113 UK stores to remain trading.
