In 2017, the Scottish high street faced fresh challenges as it struggled to fight the tide of closures. The last year has seen over 290 stores close - the highest number in recent years.
A similar story could be heard around the UK. Across the country, an estimated 5,855 stores went out of business. The closures were not solely independent traders, but the likes of Toys R Us, Claire’s Accessories, House of Fraser and New Look faced financial pressure to shut some of their shops to ease the cash flow burden. The high-profile closures only served to highlight the worries for the high street. More and more consumers are continuing to flock online for their needs, leaving traditional stored recording substantial profit losses.…continue reading →