Rochdale and Lancaster lose major retailers

ROCHDALE and Lancaster have been the North West towns hardest hit by major retailers’ retrenchment, according to a new high street survey.

New figures from The Local Data Company and accountants PwC showed that Rochdale lost ten major retailers last year, meaning that only 25 remain in the town centre. Similarly, Lancaster lost 13 multiple retailers, bringing the total remaining to just 21.

The research said that major multiple retailers closed an average of 20 stores a day across the UK between January and the end of May this year, with jewellers, clothes shops and shoe shops among the hardest hit. Bolton-based Pound Bakery, Greggs, Cash Converters and The Money Shop were among the fastest-growing brands.

In the North West, more womenswear and pubs closed, although there has been a growth both in pet shops and charity shops.

Retailers’ retrenchment towards major towns and cities proved a boon for some areas, though. Chester gained 30 major multiple retailers, bringing the total in the town to 80, and the number of major chains pitching up in Manchester increased by 61 to 150.

PwC’s Manchester-based partner Toby Underwood said: “Over the next six months, retailers will undoubtedly continue to struggle.

“Certain categories such as clothes shops are likely to experience high levels of financial distress. The combination of rising inflation, a squeeze on consumer spending, and dented consumer confidence leading to people increasingly trying to find the best deal online has made life difficult for store-dependent high street retailers who have seen a drop in sales and reduced footfall.

“Retailers cannot afford to bury their heads in the sand, and must think about surgery before the problem becomes terminal.”