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More than 70 book stores closed last year, according to recent data prompting a call for action from the Booksellers Association. The Local Data Company conducted research on behalf of PwC accountant firm which revealed that 72 book stores had closed during 2011. However, as 57 stores had opened, the total number of closures was reduced to 15.

The UK experienced an average of 14 stores closing each day in 2011, affecting book stores, bars and pubs, home furnishings, travel stores and more. In 2009, multiple retailers had a net increase of 1.2 percent, while 2011 showed a decrease of 0.25 percent, resulting in 174 shops closing overall. According to one expert, one of the reasons why book stores were closing was that they often carried ‘unnecessarily large property portfolios.’

The insolvency partner and retail specialist from PwC, Mike Jervis, 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.”

He further added that book stores and electrical stores are suffering as a number of these products are typically purchased online. A number of stores are experiencing good fortune in the UK, including pound shops, supermarkets, convenience food stores and pawn brokers. All local councils have been contacted by the Booksellers Association in a bid to reduce business rates and reduce the cost of parking for customers.

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