Store closures drop to lowest rate in seven years

However, openings have yet to recover to pre-pandemic highs, which PwC said suggests that retailers are exercising strict caution in the current trading environment.

Store closures have stabilised to the lowest rate in over seven years, with 6,146 store closures in H1 2022 (-30%) year-on-year from multiple retail operators, compared to 3,888 openings (+11%).

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