ICSM Retail Insolvency News: Andy Burnham’s plans to rescue the ‘hollowed out’ High Street – plus news of more retailers in trouble

By Harry Mottram: The last two decades have seen the traditional high street transformed – and not for the better. A combination of internet shopping, Covid lockdowns, hikes in business rates, parking charges and cheap Chinese imports have seen department stores close, out of town centres, independent boutique and book shops replaced by vaping stores and Turkish barbers and 7/11s – if they are lucky. In many high streets it is mostly boarded up shops and former retail outlets converted into flats. When Andy Burnham was laying the ground for his bid to become PM this summer he spoke of high streets being hollowed out by the policies of the last few Governments and spoke of creating hope over the next 10 years with policies to help the retail and hospitality sectors.

The policies he’s since announced include giving councils to stop and regulate vape and mini-marts who describe themselves as grocery shops which they aren’t and to clamp down on betting shops with 24 betting machines. Ian Carrotte of ICSM said these are all welcome if they are implemented but he said the high cost of running a high street shop needs to be addressed. He said car parking had been discouraged by restricting access to town centres, hiking charges in car parks and making it difficult to stop a car outside high street shops for a few minutes with too many restrictions. Another factor he said was that too many high streets had become unattractive places to visit with a low police presence and the demise of department stores such as Debenhams which acted as retail anchors.

_{Ian Carrotte of ICSM in Somerset}

Writing for Insolvency Insider Monica Kapur listed these stores that had come and gone which helps to explain the decline: Woolworths – collapsed in 2008; BHS – collapsed in 2016; Debenhams – stores closed in 2021, brand now online; House of Fraser – survived with significantly reduced estate; Comet – collapsed in 2012; Maplin – collapsed in 2018, later revived online; Phones 4U – collapsed in 2014; Toys R Us UK – collapsed in 2018; Blockbuster – closed following streaming disruption; Borders – closed UK stores; Wilko – entered administration in 2023, brand partially revived; The Body Shop – UK administration in 2024; Ted Baker – UK retail administration and store closures in 2024; The Original Factory Shop – administration in January 2026; Quiz – administration process in early 2026.

The latest casualty is the floor coverings distributor Headlam that have entered administration with Interpath involved with 154 redundancies and 28 trade counter closures, with lenders backing a proposed CVA.

LK Bennett Fashion closed in January but at one stage had over 100 branches – many overseas – with hundreds of staff. By the end the once major British retail fashion chain was left with a handful of stores and an online business which is also closed. A report by liquidators this month shows the firm owed more than £10m to creditors. It is hoped once all the liabilities have been finalised then a relaunch is possible – on a reduced scale – similar to the way Laura Ashley was saved in a much smaller concern.

The main image is from a Sky News report on the PM's plans to restore the High Street

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