Nottingham's high street 'one of the most thriving in…

Nottingham's high street 'one of the most thriving in the country', according to new study

Nottingham's high street has been named one of the most thriving in the country, according to new research.

A new ranking from by AskTraders.com shows that despite the decline of the high street nationwide, some cities are thriving.

The trading advice website looked at open data from Link ATM, Which? and the Office for National Statistics which analysed ATM, retail store and bank closures in fifty of the largest cities and towns in the UK.

It then compared percentage of closures to that of new openings in the locations.

During the first half of 2019, around 16 stores closed their doors every day, whilst only nine stores were opened.

This has resulted in a net decline of 1,234 chain stores across Britain’s high streets including East Midlands-founded travel giant Thomas Cook, which collapsed in September.

Steve Miley, senior market analyst at AskTraders , said: "The UK high street has been weathering tough trading conditions with many UK retailers dropping by the wayside.

"Traditional retail store closures are on the up as businesses grapple with a weak consumer in the face of Brexit uncertainty, the unabated rise of e-commerce, higher costs and changing tastes."

He continued: "There are, inevitably, going to be winners and losers. High street retailers with inflexible business models that have failed to adapt to their changing environment are and will be the most noticeable casualties.

"Big names have just vanished from our high street and there will certainly be more to come.

"The challenges that the high street is facing aren’t going anywhere fast. This will be a case of survival of the fittest. Those retailers that can evolve whilst still giving their customers exactly what they want could have a lot to gain."

View the full rankings for the top and bottom 20 high streets in the UK below.