WESTMINSTER must urgently develop an industrial strategy to save Britain’s high streets, retail union Usdaw demanded today after figures revealed nearly 50 stores a day were forced to shut up shop last year.

The Centre for Retail Research found that 17,145 shops on high streets and other locations nationwide were forced to close for good in 2022 – about 47 sites every 24 hours.

The disturbing total was up by nearly 50 per cent since 2021 and hit its highest point in five years. 

About 5,500 independent stores went under, while more than 11,600 shops were closed by larger chains looking to cut costs, the group’s survey showed. 

Centre director Professor Joshua Bamfield said: “Rather than company failure, rationalisation now seems to be the main driver for closures as retailers continue to reduce their cost base at pace.”

The trend is likely to continue in 2023, said Mr Bamfield, who predicted that a few “big hitters” could also go bust.

More than 151,000 retail jobs were lost nationwide last year, including from online outlets, the group said – an increase of more than 45,000 on the previous 12 months. 

Usdaw general secretary Paddy Lillis demanded that Downing Street takes action to save shops and jobs.

“We have long called for the government to work with Usdaw and retailers to develop an industrial strategy and recovery plan for retail,” he told the Morning Star. 

“The scale of the challenge the industry faces is huge and store closures are scarring our high streets and communities.

“There are substantial issues that need to be addressed like rents, rates and taxation.”