RETAILERS in Bolton have been hit by a "perfect storm" as the town suffered a net loss of high street stores last year, according to research by a leading professional services network.

The research, by PwC and The Local Data Company, revealed that the town lost almost three and half per cent of its high street retail businesses, with seven stores closing down out of 204.

Bolton has recently lost further retailers including Toys R Us and Costa Coffee in Victoria Square.

The PwC analysis of the top 500 town centres in Great Britain assessed 67,157 outlets run by retailers with more than five stores across the country.

The network's report said that the closures reflected customers response "to the changing retail climate and the continued economic uncertainty".

Zelf Hussain, restructuring partner at PwC, said: "The end of 2017 was hard for UK retail and we've seen this continue into 2018, with the toughest first quarter of the year for the sector since the recession.

"We've seen some well known names impacted as they face a perfect storm of issues - a fall in consumer confidence and reduced spending alongside a number of cost headwinds."

Regionally the North West ranked as the fourth hardest hit across England, surpassed only by London, the South East and East of England.

Over 2017 the North West experienced a net loss of 175 retailers as 515 stores closed, compared to only 340 new stores opening.

Lisa Hooker, consumer markets leader at PwC, said: "2017 was tough for the British retail industry, particularly the second half of the year.

"We saw volatility from month to month, and across different sectors as wage growth failed to keep up with inflation - forcing many shoppers to think more carefully about their spending habits.

"On top of this, many retailers are increasingly feeling the impact of the acceleration of online shopping as consumers begin to feel more comfortable with the price transparency and reliability of delivery options offered by online players."