A Drapersstory cites data from the Local Data Company that indicates 10% of stores closed in the UK from January to September of 2009. Fashion stores were hit hard with 17.9% of stores closing.
Fashion and footwear was one of the worst casualties of the recession with 17.9% of stores in the womenswear and kidswear sectors and 12.4% of menswear stores shutting their doors in the first nine months of this year. Footwear also fared badly with 14.9% of stores closing.
Figures broken down further by The Times suggest that the independent sector was a casualty of rising rates and limited access to credit during the period, with 15% of independent fashion stores reported to have closed in the nine months.
U.S. fashion-related store closings may show a similar percentage for the past nine months.
