High energy costs and a shift to shopping online after the pandemic is taking a toll on fashion brands.
Plus, household incomes have been squeezed by the cost of leaving crisis, meaning fewer people are looking to spend.
Shoppers are already seeing big changes on the high street as big-name brands look to close stores.
Estimates suggest that nearly 15,000 jobs have been axed since the start of the year as dozens of retailers collapsed or were restructured.
Here we round up which names are gone for good, and which brands are closing shops for good.
House of Fraser
House of Fraser is set to shut up shop in two more locations as it battles to keep a presence in the retail sector.
The department store will also close its Cardiff branch in the iconic Howells building after it recently launched a major clearance sale.
And now it’s understood the Birmingham department store could also be at risk.
It has turned the city-centre store into an outlet, whilst slashing the prices of all stock with messaging that reads “all stock must go.”
These big “closing down” style events usually precede a store closure.
H&M
H&M has started closing branches across the UK as high street retail struggles.
The clothing brand’s closures include branches in Burton and Maidenhead.
It’s also confirmed another three closures will happen in Hartlepool, Milton Keynes and the Isle of Wight – but it’s unclear when the shutters will close for the final time.
These closures will be permanent.
Marks and Spencer
Marks and Spencer have confirmed the closure of more than half a dozen stores across the country.
The high street chain announced last year that it was closing 67 of its larger shops as part of a major shake-up.
It said the closures of the “lower productivity, full line stores” will take place over the next three years.
M&S has now confirmed that some of its sites will close for good this year.
The closures, including proposals, are as follows:
- East Kilbride Shopping Centre – February 25
- Carlton Street, Castleford – end of April
- Meadowbank retail park, Edinburgh – spring
- Newport Road, Cardiff – spring
- Eagles Meadow, Wrexham – autumn
- Linthorpe Road, Middlesbrough – April
- Deansgate, Bolton – date to be confirmed
The M&S in Eagles Meadow shopping centre in Wrexham is due to close in autumn, but it will be relocating, rather than closing outright.
Plus M&S is also eyeing up closures for its stores in Bolton, Middlesbrough and Castleford, following proposals.
M&S is yet to reveal the other 60 stores it has earmarked for closure or how many jobs will be affected by the plans.
M&Co
The retailer fell into administration for the second time in two years at the start of December.
Administrators at Teneo put the bust business up for sale with an auction deadline for interested buyers.
And while the M&Co brand has been bought by Yours Clothing, the stores haven’t.
The sale of the brand means M&Co’s 170 shops will close forever, putting 1,910 jobs at risk:
- Airdrie
- Alexandria
- Alnwick
- Alton
- Ashbourne
- Attleborough
- Ayr
- Banff
- Beccles
- Bathgate
- Bellshill
- Belper
- Berwick
- Beverly
- Bexhill
- Billericay
- Billingham
- Blairgowrie
- Blandford Forum
- Bognor
- Bridgnorth
- Bridlington
- Bridport
- Brighhouse
- Bromsgrove
- Broughty Ferry
- Bucki
- Buckingham
- Burgess Hill
- Calne
- Camborne
- Canvey Island
- Castle Douglas
- Chesham
- Chester Le Street
- Christchurch
- Cleveleys
- Clitheroe
- Congleton
- Cosham
- Crewkerne
- Cromer
- Crowborough
- Dartmouth
- Deal
- Didcot
- Dingwall
- Diss
- Dorcheshter
- Driffield
- Dunoon
- East Grinstead
- East Retford
- Egham
- Elgin
- Exmouth
- Fakenham
- Farnborough
- Faversham
- FLeet
- Forfar
- Formby
- Fort William
Friton - Garstand
- Glenrothes
- Gosport
- Guisborough
- Haddington
- Haverhill
- Hawick
- Helensborough
- Henley on Thames
- Heswall
- Hexcham
- Hitchin
- Hove
- Hunstanton
- Ilkley
- Inchinnan OSC
- Inverness
- Inverurie
- Irvine
- Isle of Man
- Johnstone
- Kirkintilloch
- Lanark
- Largs
- Launceston
- Lerwick
- Lewes
- Liskeard
- Llandudno
- Louth
- Malton
- March
- Market Harborough
- Marlow
- Marple
- Matlock
- Melton Mowbray]Midsome Norton
- Milngavie
- Minehead
- Monmouth
- Montrose
- Musselburgh
- Nailsea
- Nairn
- Nantwich
- Newport
- Newquar
- Newton Mearns
- Northallerton
- Oban
- Orkney
- Oswestry
- Otley
- Paisley
- Penarth
- Pershore
- Perth
- Peterhead
- Petersfield
- Portishead
- Rayleigh
- Rickmansworth
- Ringwood
- Ripon
- Romsey
- Ryde
- Saffron Walden
- Saltcoats
- Sandbach
- Seaford
- Shaftesbury
- Sidmouth
- Sittingbourne
- Sleaford
- Sw Andrews
- St Ives
- St Neots
- Stamford
- Stonehaven
- Stornoway
- Stourport on Severn
- Stowmarket
- Stroud
- Sudbury
- Surbiton Tavistock
- Teighmouth
- Tenby
- Tewkesbury
- Thornbury
- Thurso
- Troon
- Upminster
- Uttoxeter
- Warminster
- Wells
- Welshpool
- West Kirby
- Wetherby
- Whitby
- Whitehaven
- Whistable
- Wick
- Wickford
- Wishaw
- Wutham
- Wokingham
- Woodbridge
Next
Next closed its Stratford Westfield store on Friday, February 17.
The closed store now has signage informing customers that they can still shop with the brand online.
It says: “This store is now closed. Please visit us at next.co.uk.”
New Look
The retailer has closed six stores this year and plans to shut another forever.
The following stores have already closed:
- Birmingham, Fort Shopping Park – January 9
- Trowbridge – January 23
- Coventry – January 29
- Birmingham, Bullring – January 30
- Walthamstow, London – February 4
- Grosvenor Centre, Northampton – February 15
New Look‘s Kirkcaldy store will close by the end of the month forever.