The number of retail chain store closures in the United Kingdom has fallen to just 14 a day according to analysis by PwC – the lowest rate since 2010. All in all, the analysis found that 2,342 retail stores opened on the UK’s high streets and shopping malls in the first six months of the year. And just 2,564 shops closed during the same period, bringing the net closure rate to 222. That is down significantly from 503 net closures during the same period in 2016 – a significant improvement in a year.

“The relatively low level of net closures in the first half of this year reflects a more stable environment, with consumer confidence proving more resilient than expected as the year unfolded. Historically, the number of retail insolvencies has been a major factor in the volume of store closures,” Mike Jervis, an insolvency partner and retail specialty at PwC, explained in a blog post on the company's website. “2017 is on course to post the lowest level of administrations for more than a decade, with a favorable impact on overall store numbers.”

Still, however, it should be noted that the closure rate hasn’t had the same effect on all sectors of retail. For example, women’s shoes and clothing stores had the highest closure rates, with charity shops and gift shops also suffering. Coffee shops, bookstores, and grocery stores, however, actually fared quite well – all saw fairly significant increases in store numbers.

All in all, analysts seem to agree that this is good news for Britain’s retail sector, offering an increasing amount of stability to many towns that have suffered significantly because of store closures. However, there could be obstacles ahead: analysts have pointed out that with high inflation and a looming Brexit, this bright spot for the sector may not last.