Financially troubled retailers have been closing more than two in five stores in the UK as the high street comes under increased pressure, according to a new report issued by PricewaterhouseCoopers (PwC) on Friday. PwC examined the administration announcements of 22 troubled retailers and found that on average they were proposing to close 43% of their stores. This means that if just 10% of national retailers get into financial difficulty in 2009, then approximately an additional 4,400 stores could come onto the market. Previously, a similar exercise was carried out in October 2007, May and October 2008 when increases of 27%, 36% and 38% were recorded.
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