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PRIVACY
Retail & Consumer

Shops that have collapsed into administration in 2021

Restrictions have taken a toll on the º£½ÇÊÓÆµ's high streets this year, while online retailers have seen a boom in business

A shopper passes closing down sale signs in a shop on Oxford Street, London(Image: Dominic Lipinski/PA Wire)

The º£½ÇÊÓÆµ high street is likely to be forever changed by the Covid pandemic.

Former retail giants have been brought to their knees by a crisis that has accelerated issues facing an already declining industry.

Government restrictions have added to pressure on a fragile sector, with non-essential retailers around Britain being forced to shut up shop for much of 2020.

Retailers that have been unable to adapt - and quickly - are being pushed to the brink, with dozens of big-name chain stores going bust in 2020.

But it’s not all doom and gloom; online retailers have seen a boom in business as people’s shopping habits have changed in the last 12 months.

Recent Black Friday sales have also boosted retail spending in the º£½ÇÊÓÆµ, with sales rising 5% in November, against a growth of 0.9% at the same time last year. On a two-year basis, total retail sales grew 4.1% during November compared with the same month in 2019.

Helen Dickinson, chief executive of the British Retail Consortium, said: “Looking forward to Christmas, spending patterns suggest that sales could be more spread out than in previous years.

"Consumers, erring on the side of caution, are shopping for gifts earlier to get ahead of issues relating to shipping and transport. Meanwhile, retailers are doing everything they can to prepare stores, warehouses and deliveries ahead of Christmas, prioritising all the food and gifts that customers will need to enjoy the festive season.”