Taste for chicken sees growth in high street takeaway openings
CHICKEN shops are proving so popular on the high street that they were one of only three store types, along with pet shops and gyms, to see more openings than closures in the last six months, according to new research.
Our insatiable appetite for online shopping also meant more clothes and fashion shops shut down than any other category, accountancy giant PwC and the Local Data Company found.
The new data uncovered that a net 1,234 chain stores closed in the first half of 2019 - the highest net closure rate since PwC and LDC started records in 2010.
A total of 2,868 stores closed over the period, with 1,634 stores opening.
During that time, several retailers sought to close stores or reduce rents through insolvency processes known as company voluntary agreements (CVAs), including Arcadia and Debenhams.
Other retailers, such as LK Bennett, Pretty Green and Coast, went bust.
But researchers uncovered that takeaways, and chicken shops in particular, have been opening in significant numbers, with independent businessmen and women keen to fill vacant high street space.
Kien Tan, a research director at PwC, said: “Even if big chains aren’t opening, local businesses are.
“Local entrepreneurs know their local market and know where the demand is. That’s why they are willing to take that risk.”
He also pointed out that although it would appear that chains are opening, the vast majority of these are operated by franchisees.
Zelf Hussain, retail restructuring partner at PwC, added: “A number of high profile business administrations have contributed to the record net decline in high street store numbers.”