High Noon for the High Street

The acceleration in store closures this year followed a grim 2012, when a net 1,779 closed. That represents a 10-fold increase from the 174 in 2011 and reflected casualties including Game Group, JJB Sports, Blacks Leisure and Clinton Cards. Although many of the companies were salvaged in one form or another, hundreds of stores closed.

With the rise of online shopping the chains did not need as many stores as they did in the past, a trend that looks set to accelerate this year.

People have got less money in their pockets, employment is tighter and also we've seen a massive growth in the supermarkets in terms of non-food retail.

The dominant factor has been the growth of inline shopping. The internet now accounts for 12% of retail sales - and is forecasted to be at least 30% by 2020.

Those retailers who fail to exploit all areas of multi channel marketing whilst finding themselves saddled with the burgeoning costs of maintaining retail outlets will continue to suffer and produce more casualties in the sector in the coming months.