The UK high street lost 14 chain retail stores every day in 2011, as 5,268 shops were closed by major retailers, according to new research. The research by PricewaterhouseCoopers (PwC) and the Local Data Company (LDC) found that multiple retailers reduced their high street presence by 0.25% - a reduction of 174 shops in 2011. The survey, which concentrated on chain-owned stores across 500 of the biggest town centres in the UK, showed that bookshops, electricals, home furnishing, menswear, off-licences, bars/pubs and travel shops were the hardest hit in 2011, while charity shops, convenience stores/supermarkets pound stores and credit unions bucked the trend. Mike Jervis, PwC insolvency partner, said: “A common feature of retailers in distress who we are dealing with is that they have too many locations. Relatively long leases have been entered into in a growth phase of the economy which are no longer appropriate.” Matthew Hopkinson, director of the Local Data Company, said: "In the past the closures were offset by openings but 2011 has shown a true decline in multiple retail and leisure outlets across Great Britain. "With the move to out of town locations and the numbers of closures being announced currently, this decline is likely to continue into 2012 and thus lead to a rise in vacancy rates.”

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