More logistics firms and retail businesses are failing than are being launched, writes Peter Brown.
It comes from research provided by parcel delivery expert Parcelhero. Using data from the Office of National Statistics’s report Business Demography, Parcelhero revealed that 10,595 transportation and storage sector firms, including couriers and postal companies, were founded in the first half of this year, but 13,150 failed – leaving a net loss of 2,555 companies.
Likewise, 13,390 new retail sector companies were created in the first half of 2024, but 14,500 retailers shut down – representing a net loss of 1,110 retail businesses.
David Jinks, Parcelhero head of consumer research, said: “Over 1,000 more retailers have ‘died’ than been ‘born’ during the first half of this year and over 2,500 more transportation and storage companies have failed than been created. “These figures are even more alarming when we compare them with the same period in 2019, before the UK was hit by the pandemic.
“In the first half of 2019, 17,670 retailers were born. That’s 4,280 more new retailers registered than in the first half of this year.
“Likewise, 15,325 transportation and storage companies were born in the first six months of 2019, which was 4,730 more than this year. It does look as if both retailers and their transportation and storage partners are suffering from chronic long-Covid.
“The health of both sectors seems considerably impaired compared with before the pandemic.”
