During 2012 an average of 20 multiple retailers closed down everyday on the high street, according to new research from PricewaterhouseCoopers (PwC) and the Local Data Company.
And it's only going to get worse, according to the findings, with analysis of the three months between December 2012 and February 2013 showing the potential rate of closures will accelerate to 28 per day for this period.

A net total of 1,779 shops shut their doors for good last year, a tenfold increase compared with the 2011 figure of 174.

Computer gaming, health food and card shops made up a large proportion of the closures. Payday loan shops, discount stores and bookmakers reportedly saw an increase, however.

The figures, based on a survey of 500 town centres, showed a flurry in store closures during the last three months of 2012, as household names such as Comet and Jessops went into administration.

The total number of closures across the UK clocked up at 7,337, but with 5,558 opening the resulting balance was 1,779.

PwC insolvency partner and retail specialist Mike Jervis said: "2012 saw more retail chains go into insolvency than ever before. The failed chains generally shared two problems- too many stores and too little multi-channel activity.

"A number of them had failed to deal with their underlying issues by hiding behind light touch restructuring processes, especially company voluntary arrangements. 2013 has seen the downward trend become even worse.

"If underperforming retailers are to avoid becoming part of these statistics for next year, their shopping baskets should contain an acute knowledge of their customers and their customers' needs; robust cashflow planning; honest analysis of the performance of existing and potential new stores; the bravery to admit mistakes regarding products and stores before dealing with them; clinical attention to costs; early engagement with banks, landlords and suppliers; appropriate debt and capital structures."