In the first six months of 2024, 6,945 stores closed in the UK, which works out at about 38 stores per day – here are some of the bigger brands that fell into trouble
The UK high street has seen several well-known brands collapse into administration this year – including Homebase and Carpetright.
In the first six months of 2024, 6,945 stores closed in the UK, which works out at about 38 stores per day. However, if you take into account new store openings, there would be a net closure of 12 stores a day. Research from accountancy firm PwC shows on average, 18 chemists, 16 pubs and nine banks shut down every week between January and June. We’ve compiled a list of some of the bigger names that ran into trouble.
Homebase
Homebase collapsed into administration last month, with the majority of its stores going on to be sold to retail group CDS, which also owns The Range. The deal included 1,600 jobs and 70 stores. Teneo said the remaining 49 UK stores will continue to trade as normal while administrators try to find a buyer.
Carpetright
Carpetright entered administration in July 2024. Flooring retailer Tapi agreed to buy the Carpetright brand, intellectual property, 54 stores and two warehouses in a pre-pack administration deal. However, it was confirmed more than 200 stores would close, along with more than 1,000 jobs.
The Floor Room
Carpetright sister firm The Floor Room also collapsed into administration in August 2024, resulting in the loss of 200 jobs across the UK. Its concessions and one flagship store on London’s Tottenham Court Road also closed immediately.
The Body Shop
The Body Shop collapsed into administration in February 2024, with more than 80 stores closed as a result. The Body Shop was later rescued from administration by a consortium led by British tycoon Mike Jatania, which saved its remaining 113 stores.
Lloyds Pharmacy
Lloyds Pharmacy quietly filed for liquidation in January 2024 – almost exactly one year after the firm pulled out of 237 in-store Sainsbury’s branches in 2023. In October 2023, LloydsPharmacy operated 138 branches, almost 90% fewer than it ran in March 2022.
Ted Baker
The firm behind Ted Baker’s UK shops, No Ordinary Designer Label Limited (NODL), collapsed into administration in March 2024. The final few 31 Ted Baker shops closed for the final time in August 2024 but the fashion firm went on to relaunch its website in November 2024.
CDT Tiles
CDT Tiles entered administration in August 2024, resulting in the closure of 56 of its outlets and 268 jobs being axed. Its rival Topps Group went on to purchase 30 CTD Tiles locations and two distribution sites as part of a rescue deal.
Smiffys
Fancy dress retailer Smiffys fell into administration in June 2024. It was bought out of administration the following month by Ad Populum, but in November 2024, it closed its store in Bold Street in Liverpool.
Matches
Luxury fashion retailer Matches Fashion was put into administration by Frasers Group in March 2024. It closed its final stores and website in July 2024.
Muji
The European arm of Japanese clothing and homeware retailer Muji collapsed into administration in March 2024, before it later secured a rescue deal with its parent company.
Farfetch
Luxury digital marketplace Farfetch completed a pre-pack administration deal to sell its business to South Korean ecommerce company Coupang in January 2024.
