20 stores a day closed down on Britain's high streets in 2012 and it could grow worse this year, new data has revealed.

The number of retailers shutting their doors climbed to 1,779 last year from 174 in 2011, according to figures compiled by professional services firm, PwC, and retail information provider, Local Data Company.

The rate of closures, primarily through administrations, accelerated to 28 per day in the three months to February.

Since the start of this year, Jessops, HMV, Blockbuster and Republic have fallen into administration.

Matthew Hopkinson, Director of Local Data Company, said last year's losses were equivalent to the size of 131 football pitches.

"We can expect to see this trend continue and indeed accelerate in 2013 as more leases come up for renewal along with the ever increasing demands from consumers for space that delivers an experience good enough to pull them away from their technology devices," he said.

"The end of 2012 and the beginning of 2013 has seen the most dramatic period on record as companies controlling more than 1,400 shops went into administration."

Mike Jervis, insolvency partner and retail specialist at PwC said the collapsed chains shared two problems - too many stores and too little multi-channel activity.

Stores failed to deal with underlying issues by hiding behind light touch restructuring processes, he added.

"If underperforming retailers are to avoid becoming part of these statistics for next year, their shopping baskets should contain an acute knowledge of their customers and their customers' needs; robust cashflow planning; honest analysis of the performance of existing and potential new stores; the bravery to admit mistakes regarding products and stores before dealing with them; clinical attention to costs; early engagement with banks, landlords and suppliers; appropriate debt and capital structures."

RD

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