Sixteen shops are closing on the high street every day. The rate has doubled in a year, with the retailers blaming a perfect storm of rising prices, online competition and a slump in consumer confidence.
Experts are warning that many retailers will have to radically change this year to survive, after several high street brands were forced to close stores or issue profit warnings in the first three months of this year.
Toys R Us and the electronics chain Maplin have both collapsed into administration, putting 5,500 jobs at risk, while the fashion chain New Look has closed 60 stores.
