What: The UK has lost a total of 9,300 retail outlets in the pace of 2 years due to the pandemic.

Why it is important: The country used to have the second highest number of retail square feet per capita in the world, and the pandemic led to a reset for more balance (creating casualties on the way).

According to a BBC/Ordnance Survey, the pandemic contributed to a 13,4% drop in the UK (excluding Ireland) between March 2020 and March 2022, leading to the closure of 328 units (including the Debenhams and Beales entire fleets).

At the same time, 8,5% of fashion stores had to close (4,300 units) including Burtons, Dorothy Perkins, Wallis, Topshop and Miss Selfridges entire fleets. Malls have replaced them by hair & beauty services (+5,9% in total units), services and hospitality-based venues.

In the UK, the pandemic was the most damaging to department stores and fashion stores