New data from the UK’s Insolvency Service shows that insolvencies were 41 per cent higher in January 2026 than December 2025, including a sharp rise in High Street brands.

151 companies entered administration in January, including well-known brands such as TGI Friday’s, Claire’s and The Original Factory Shop. February’s stats are not much better, falling 4 per cent from January but still sitting 30 per cent than the same time last year, with chains including Game and Quiz Clothing entering administration.

This slew of failures has led to the shuttering of hundreds of shops and restaurants, as well as thousands of job losses. Not all of these brands have faced complete destruction; TGI Friday’s was bought out by a subsidiary of Sugarloaf, TGI’s global brand operator, but in exchange 16 restaurants closed, resulting in the loss of 456 roles.

High Street shops have been in a tough position for years; a PwC report showed that in 2024, 38 shops closed every day in Great Britain, and the decline shows few signs of stopping.

The research reported that footfall across High Streets, shopping centres and retail parks is 15-20 per cent lower than before the pandemic. A 2025 PwC report suggested that Chancellor Rachel Reeves’ tax changes that year – including increasing businesses’ National Insurance contributions – would further accelerate the decline.

Retailers both on- and offline are increasingly basing their hopes on AI to cut costs and improve customer experience.

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