UK Online Stores Saw Big Jump in Closures After Covid Curbs Were Lifted
- Business closures in retail have risen 40% from a year ago
- Shutdowns follow online spending boom during the pandemic
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The online retailers that boomed in the UK during the pandemic have suffered a significant shakeout since the government eased Covid-19 restrictions, new figures show.
The number of retail firms shutting down rose 40% from a year ago in the second quarter, the Office for National Statistics said Thursday. The surge was the main factor behind an 8% increase in total business closures.