As per data compiled by Local Data Company, better known as LDC, UK could see closure of as many as 18,000 stores in 2021.

As per Apparel Resources, UK high-street retailers and those in shopping malls are still battling the crisis. After a disappointing holiday season late last year, 2021 too began with the fall of mighty retail giants like the Arcadia Group and Debenhams.

Even other British clothing brands like Apricot too have been struggling. Apricot recently got approval from creditors for its company voluntary arrangement (CVA).

A data, compiled with PwC, reportedly, found that of the 11,000 stores that closed down in 2020, 9,877 were retail units run by chains, while 1,442 were independent stores, restaurants and leisure outlets.

The number 9,877 is the highest on record so far – equivalent to 48 stores shutting down every day.

With vaccine now getting rolled out at a faster pace and Government committed to help the retailers, one just hopes situation too improves fast and 2021 doesn’t turn out to be as bad as predicted.