Next reveals it will close 11 UK stores by end of 2023

Next said the closures were being made for a range of reasons including stores not meeting their target margins, sites being redeveloped and not being able to agree "acceptable new terms" with landlords.

These store closures are the latest blow to the UK high street which has taken a significant hit this year. 

Wilko, which entered administration last month, has announced hundreds of store closures over the past few weeks with administrators PwC saying all 400 sites will close by early next month.

All 400 Wilko stores are set to close by early next month according to administrators. (Image: PA)

Boots revealed earlier this year it would be closing 300 stores in the next 12 months. 

Other UK high-street retailers including Argos, Iceland, New Look and B&M have also closed a number of stores across the UK in 2023.

Next reveals 11 store closures by the end of 2023

Next revealed there would be 11 store closures in the UK by the end of 2023 in a trading update issued on Thursday (September 21).

The Next Trading update said: "We expect to close 11 mainline stores this year.

"Six closures are in locations where we forecast that the store would not achieve our target margin on almost any terms; two closures are due to the site being redeveloped; three further closures are as a result of being unable to agree acceptable new terms with landlords.

"This last category includes one large store where the length of the lease proposed by the landlord, on a high fixed rent charge, was not something we could agree to."

The exact locations of the Next stores closing this year are not yet known.