The Centre for Retail Research (CRR) forecast that 20,620 shops would close permanently this year, with the loss of 235,714 jobs.
Retail experts warned that even before coronavirus, UK chains were struggling because of soaring property costs, wage bills and changing shopping habits which have reduced profitability.
Joshua Bamfield, director of the CRR, said: “We expect large retail businesses to be looking at exactly how many stores they expect to operate in 2021 and beyond in order to trade successfully. They will now make plans to achieve those [objectives].”
Restructuring experts predict that already struggling retailers such as House of Fraser, Debenhams, Ann Summers and Sir Philip Green’s Arcadia will not reopen scores of stores.
Some of the country’s biggest retailers, including Primark and New Look, have demanded rent holidays from their landlords in order to weather the loss of sales while shops are shut.
