In the first six months of 2016, 12 Northampton based shops and boozers met their fate as well as 10 Kettering retailers and public houses.
It is understood that estate agents, take-away food shops and charity stores are growing at the fastest rate in the East Midlands during the first half of this year, while fashion retailers, mobile phone shops and pubs have been amongst the hardest hit.
Andy Lyon, partner and retail specialist at PwC in the East Midlands, said: “Consumer confidence was strong in the first half of 2016 and this latest data shows that key towns cities, such as Leicester and Nottingham, continued to prosper as consumers were drawn to larger retail centres.
Competition for consumer spend across the region remains high so some cities and towns, such as Northampton and Derby, are having to fight hard to attract consumers to their high streets.
An analysis of 66,401 outlets operated by multiple retailers in 500 town centres across Britain, found that in the first six months of 2016, 125 shops have opened and 146 have closed down on East Midlands high streets.
Data shows that Derby had the highest net reduction in the East Midlands, followed by Kettering, Lincoln, Northampton and Boston.
These statistics represent a 22 percent decrease in the number of retailers opening and a 26 percent decrease in the number of retailers shutting up shop in the region compared to the first half of last year.
However, new data suggest that arrivals and recent closures are gradually reshaping the region’s high streets.
Mike Jervis, insolvency partner and retail specialist at PwC, said: “We are seeing far fewer closures due to outright insolvencies, but more due to lower key restructuring of store portfolios. This is still having a negative impact particularly on the High Street - interestingly, units on retail parks are far easier to find alternative tenants for.