The road to XBOX ONE. Follow the journey

Nearly half of the UK's video games retailers closed in 2012 - PwC

Ben Parfitt
Nearly half of the UK's video games retailers closed in 2012 - PwC

Video games have been named as the biggest victim of the UK’s 2012 High Street slump.

That’s according to a new report from PwC and the Local Data Company, which estimates that 45 per cent of the country’s video games retailers were forced to close their doors last year.

The next highest sector was health food which suffered just a 24.7 per cent decline. Winners included payday loans firms (up 20 per cent), pawnbrokers (up 13.2 per cent) and poundshops (up 13 per cent).

The report adds that throughout 2012 the UK suffered 20 store closures every day, up ten per cent year-on-year. There were 7,337 closures in total.

"The failed chains generally shared two problems – too many stores and too little multi-channel activity,” PwC’s Mike Jervis told the BBC.

"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." 

Advertisement

Tags: Retail , uk , decline , video games , high , street

Follow us on

  • RSS