Britain’s high streets have endured a difficult year, as numerous major retail and hospitality brands closed stores, with some long-standing mainstays shutting down permanently.

This trend emerged against a backdrop of strained consumer finances, persistent inflation throughout much of the year, and escalating operational costs for businesses.

Consequently, many firms initiated restructuring efforts or entered administration.

Here are some of the major brands with closed sites across this year:

– Poundland

Poundland is among chains to have suffered over the year from pressure on shoppers despite its value proposition.

The group was sold for £1 as a result and launched a major restructuring plan.

This involved the initial closure of 57 stores in a move which put more than 1,000 jobs at risk.

The company, which was bought by investment firm Gordon Brothers, has since announced further tranches of closures and is set to have shut more than 100 sites by the start of 2026, as part of efforts to trim its estate from around 800 sites to between 650 and 700 shops.

– WH Smith

WH Smith had been a stalwart of UK high streets since its first store opened in 1792, selling everything from crime fiction to confectionery.

However, the brand disappeared from the high street after the group sold off all its UK high street retail shops to private equity company Modella Capital to focus on its travel locations, where it will still operate under the brand.

As a result, Modella revealed plans to rebrand the chain as TGJones.

As it pushed forward with efforts to sell off the high street arm, the group pushed forward with the closure of 20 stores.

– Claire’s

The UK arm of fashion accessories business Claire’s tumbled into administration this year after its US owner entered bankruptcy.

Modella Capital once again appeared in the picture, striking a deal to save 156 stores.

However, 145 shops – employing around 1,000 workers – were not part of the deal and closed as a result.

– Pizza Hut

In October, Pizza Hut confirmed that 68 of the brand’s UK restaurants would shut after the business running its franchise in the country entered administration.

It also shut 11 delivery sites as part of a restructuring which put 1,210 workers at risk of redundancy.

open image in gallery

DC London Pie, the firm running Pizza Hut’s UK dine-in restaurants, appointed administrators after being impacted by a slowdown in the sector.

American hospitality giant Yum! Brands, which owns the global Pizza Hut business, bought the remaining UK restaurant operation in a rescue deal, saving 64 sites.

– Bodycare

Bodycare was among the brands to disappear from UK high streets for good after it shut all its roughly 150 stores.

The retailer was founded in 1970 in Lancashire and sold beauty products, fragrances and other bathroom items.

It employed as many as 1,000 people early this year but came under pressure from rising costs and a shortfall in funding, which also affected supplier relationships and led to stock shortages.

– Quiz Clothing

Fashion chain Quiz shut 23 of its stores after entering administration in February, in a move which hit around 200 workers.

It closed the shops despite being bought in a pre-pack administration deal by a subsidiary of the founding Ramzan family.

Quiz had started the year searching for emergency funding but fell into insolvency after failing to secure a deal.

– Leon

Leon is closing around 20 of its restaurants after launching a major restructuring in December.

The company said it will shut the doors of the worst-performing of its 71 stores.

It came after the group was bought back by co-founder John Vincent from supermarket group Asda.

– Select Fashion

Select Fashion was another chain to cease trading in 2025, after the womenswear business came under pressure from growing losses.

The business closed all its roughly 80 stores earlier this year and entered liquidation after failing to find a buyer.

– Homebase

Home improvement firm Homebase shut 65 shops between January and March after falling into administration late in 2024.

Retail group CDS, run by The Range owner Chris Dawson, snapped up the brand but was unable to save all its stores.

Bosses at Homebase have said recent years were “incredibly challenging” for DIY stores, blaming “a decline in consumer confidence and spending” after the pandemic.

– New Look

Elsewhere in retail, high street fashion chain New Look shut 15 of its stores in the UK over the year.

The group also revealed that it would exit the Republic of Ireland, shutting all its 26 shops in the country, hitting 347 workers, in the face of squeezed consumer spending.

– Starbucks

In September, Starbucks launched an overhaul which resulted in the closure of some of its UK coffee shops.

The group did not disclose exactly how many sites would shut but closed 10 locations in October as part of the process.

– Fired Earth

Upmarket tile retailer Fired Earth slid into administration in October, resulting in the closure of its 20 UK showrooms, and 133 job cuts.

Rival Topps Tiles bought the Fired Earth brand, IP, website and around £2.5 million worth of stock but could not save any of the chain’s stores.

– Brewdog bars

Scottish craft brewery and bar business Brewdog shut 10 of its sites in July, including its first-ever venue in Aberdeen.

The closure plan, which was part of a shake-up of Brewdog’s hospitality arm, put almost 100 jobs at risk.

– Monki

At the start of the year, European fashion giant H&M announced plans to close its seven stores under its Monki brand.

It said a “limited number” of these would be transformed into its sister brand Weekday but still closed a number of shops permanently.

– River Island

Retail chain River Island shut 33 shops as part of a restructuring to help support its future.

The fashion group pushed through a formal restructuring plan amid fears that the company could collapse into administration without action.

It also secured rent reductions on 71 other stores as part of the plan.

– Hobbycraft

In April, the arts and craft retailer revealed plans to shut nine of its stores, in a move it said would hit up to 126 workers.

It comes after Modella Capital bought the retail business last year.

India’s Global Lending: India has evolved from being primarily a recipient of foreign aid to a provider of economic support and loans to several countries across Asia, Africa and Latin America. Its financial assistance has become an important instrument of foreign policy, reflecting India’s growing role as a responsible regional and global partner.

Recent budget provides a clear picture of which countries benefit the most from Indian aid and how India balances lending with managing its own foreign debt.

According to the Union Budget 2024-25, the Ministry of External Affairs has been allocated Rs 22,155 crore. This is an increase over the budget estimate of Rs 18,050 crore for 2023-24, though it falls short of the revised estimate of Rs 29,121 crore. The allocation for foreign aid in 2024-25 is projected at Rs 5,667.56 crore.

Bhutan Tops The List Of Indian Aid Recipients

Budget data shows that Bhutan receives the largest share of India’s financial support. In 2024-25, the country is expected to receive around Rs 2,068.56 crore, slightly lower than the revised figure of Rs 2,398.97 crore in 2023-24.

Following Bhutan, Nepal, the Maldives and Mauritius rank among the top recipients of Indian assistance.

Breakdown Of Indian Assistance By Country

Bhutan – Rs 2,068.56 crore

Nepal – Rs 700 crore

Maldives – Rs 400 crore

Mauritius – Rs 370 crore

Myanmar – Rs 250 crore

Sri Lanka – Rs 245 crore

Afghanistan – Rs 200 crore

Selected African countries – Rs 200 crore

Bangladesh – Rs 120 crore

Seychelles – Rs 40 crore

Selected Latin American countries – Rs 30 crore

India’s Own Foreign Debt

While India provides loans to various countries, it also manages its own foreign debt. By the end of March 2020, the country’s total external debt had reached approximately $558.5 billion, comprising commercial borrowings and NRI deposits as key components.

During the COVID-19 crisis, India also borrowed from institutions such as the World Bank and the Asian Development Bank to support sectors like MSMEs, healthcare and education.

Today, India extends financial assistance to more than 65 countries in various forms, including lines of credit, grants, technical cooperation and humanitarian aid. It reinforces its position as a responsible and influential player on the global stage.

New Delhi: Often hailed as an emerging global power, India’s rise is underpinned by a complex web of loans, investments and international financial cooperation. The question is whether India is a heavy borrower or a responsible debt manager. Which countries and institutions lend the most to India, and how has the country simultaneously extended assistance to dozens of other nations?

The data behind these questions tells a nuanced story.

India’s Growing Foreign Debt

Influenced by domestic needs and global economic conditions, India’s foreign debt has grown over time. By the end of March 2020, India’s total external debt reached around $558.5 billion. This includes commercial borrowing, Non-Resident Indian (NRI) deposits and loans from multilateral institutions.

Raising capital from global markets has been a core part of India’s economic strategy, helping finance infrastructure projects, industrial growth and developmental initiatives.

Who Lends The Most To India?

India’s foreign debt is not concentrated with a single country. A large portion comes from international markets, foreign banks and institutional investors.

Multilateral institutions such as the World Bank and the Asian Development Bank have also been key lenders. During crises like the COVID-19 pandemic, loans from these institutions were crucial in supporting MSMEs, strengthening healthcare systems and bolstering education. Such borrowing has been an important tool for crisis management.

The Role Of NRI Deposits, Commercial Loans

NRI deposits play a vital role in India’s external debt system. Capital deposited by Indians living abroad provides India with a stable and relatively safe source of funding.

Similarly, commercial borrowing allows Indian companies to raise capital from global markets at competitive rates, supporting production, exports and employment.

However, such loans carry risks, including interest rate fluctuations and currency exchange volatility.

Borrower And Lender – India’s Dual Role

Despite being a borrower, India is also a major contributor to global development. Today, the country provides economic assistance to more than 65 countries through lines of credit, grants, technical cooperation and humanitarian aid.

Its partnerships are especially strong with neighbouring countries and African nations, enhancing India’s soft power and establishing it as a responsible global partner.

Is Foreign Debt A Threat?

Economists argue that foreign debt is not inherently risky as long as it is used productively and repayment capacity is maintained. India’s debt-to-GDP ratio has stayed manageable. A strong foreign exchange reserve and a growing economy give India the ability to service its obligations. The real challenge lies in ensuring that borrowed funds continue to drive development and generate employment.