The Centre for Retail Research forecasts that around 17,350 retail locations will close in 2025, following a notable increase in closures in 2024, where 13,000 shops shut down, representing a 28% rise from the previous year.

Additional closures have been reported, with retailers like New Look planning to shut nearly 100 branches and WHSmith potentially disappearing from British high streets due to financial difficulties.

Research shows that over half of the companies surveyed expect to raise prices within three months, with 75% citing employee costs as a primary concern, further complicating the retail landscape.

This trend of store closures is largely attributed to changing consumer behavior favoring online shopping, rising operational costs, and insufficient investment from landlords to maintain retail spaces.

The closure of Howell's DIY has been announced via a heartfelt Facebook post, which has led to disappointment among local customers who have expressed sadness and gratitude for the store's years of service.

The British Retail Consortium has highlighted that a rise in employer National Insurance contributions is expected to cost the retail sector £2.3 billion, intensifying the financial challenges faced by businesses.

As a result, many independent stores and major brands are struggling, with rising living costs and increased online shopping contributing to a challenging year for retailers in 2025.

Professor Joshua Bamfield from the Centre for Retail Research warns that retail job losses could surpass those experienced during the pandemic, with predictions indicating up to 202,000 jobs could be lost in 2025.

In a local example, Howell's DIY, a family-run hardware store in Wallasey, Wirral, is set to close permanently at the end of April 2025, prompting a significant closing down sale with discounts of 30% on marked prices and over 50% on older stock.