650 retail stores have closed in 2018 so far

Nearly 650 retail stores and restaurants have shut or are at risk of closure since the start of 2018.

According to analysis by BBC 5 live’s Wake Up to Money Maplin and Toys R Us sites accounted for half of the total closures, as both chains fell into administration on the same day in February.

All UK Toys R US stores are poised to shut down after administrators failed to find a buyer, resulting in a store closure programme and a possible 3,000 job losses.

Carpetright and New Look have also announced store closures, and Marks and Spencer is in the middle of a closure plan that will shut six of its stores by the end of April.

Bryan Roberts, a retail analyst at TCC Global, said some retail failures had “been self-inflicted, as firms failed to adapt to changing consumer behaviour”.

He added: “There are lots of nimble retailers out there. There’ve also been cost pressures like the minimum wage, and business rates – particularly those on the high street.”