River Island and Primark are among the major retailers that have revealed plans to close stores in January 2026.
The Centre for Retail Research reported that 54 retailers went bankrupt last year, leading to the closure of 3,080 stores and affecting 30,153 employees.
Retail sales volumes experienced a slight decline of 0.1% in November, according to the Office for National Statistics (ONS) monthly data.
River Island is set to shut down at least 27 stores this month as part of a restructuring effort that previously targeted 33 stores. Locations like Brighton, Edinburgh Princes Street, Great Yarmouth, and Stockton-on-Tees have already closed, while others in Norwich, Norfolk, and Workington, Cumbria are awaiting closure dates.
Poundland is in the process of closing 12 stores this month following a High Court-approved restructure. The discount retailer had already closed 57 stores by the end of September after being acquired by investment firm Gordon Brothers for £1.
Primark recently closed its Dartford store due to significant building repair needs, marking its first closure in over a decade. The decision was influenced by the building’s condition and its proximity to other Primark stores.
Lloyds Banking Group, including Lloyds Bank, Halifax, and Bank of Scotland, will be closing 34 branches this month, citing the increasing trend of online banking as the reason behind the closures. The closures include 17 Lloyds branches, eight Halifax sites, and nine Bank of Scotland branches.
Overall, the retail sector is facing challenges with store closures and restructurings impacting both employees and consumers.