Shoppers brace themselves as Ireland faces a wave of retail closures in 2025, with familiar names like Lidl and Ted Baker joining the ranks.
Retail Closures Spike in 2025
Recent years have seen numerous beloved retail chains shutter their doors, leaving shoppers searching for alternatives. Now, 2025 looks set to continue this trend, with bankruptcy rates soaring in the sector. PwC, a leading business advisory firm, warns that the retail industry is facing significant challenges, predicting further closures in the coming months.
According to PwC’s latest insolvency barometer, retail accounts for a staggering quarter of all insolvencies this year. A grim 76 businesses went under in the final quarter of 2024 alone. Adding to the concern, PwC reported a 35% rise in insolvencies across all sectors in the first nine months of 2025 compared to 2023, marking an 86% increase from 2022.
High-Profile Closures Hit Irish Shoppers
Several high-street staples have already closed their doors, including Ted Baker, which shut all seven outlets in Ireland last year. These closures impacted prominent locations like Grafton Street and Arnott’s in Dublin, as well as shops in Blanchardstown, Cork, Galway, Limerick, and Kildare.
The Irish restaurant scene hasn’t been spared either. Tolteca, a popular chain, closed all its stores in Dublin’s Baggot Street, Suffolk Street, Rathmines, and Montrose earlier last year. Dublin city center also saw the closure of Ukiyo, a restaurant and nightspot, along with three other Dylan McGrath-owned businesses located within a short distance of each other.
Lidl Closure Leaves Cork Shoppers Surprised
Adding to the growing list of closures, a major Lidl supermarket in Cork city center shocked shoppers with a sudden closure notice. The Cornmarket Street branch announced its impending closure on Friday, January 3rd, directing shoppers to nearby locations in Wilton, Churchfield, and Tougher for their shopping needs.
Hospitality Sector Faces Mounting Pressure
While retail struggles, the hospitality sector faces even greater challenges. PwC reports that the average liabilities left behind by liquidated hospitality companies are approximately €380,000 over the past 21 months. Furthermore, the sector’s annual insolvency rate is double that of retail, standing at 58 per 10,000 businesses.
PwC predicts a sharp rise in hospitality insolvencies in the first quarter of 2025. Ken Tyrrell, business recovery partner at PwC Ireland, highlights the difficulties facing smaller businesses:
“With the increasing cost of doing business in Ireland, we continue to see insolvencies rise in recent years from historic lows. Both the hospitality and retail sectors are showing signs of stress, and will be hoping for a busy trading period in the run-up to Christmas, a traditionally very important time of year for both sectors.”
What Does This Mean for Irish Consumers?
These closures raise concerns about the future of Ireland’s retail landscape. Shoppers are left wondering what other familiar stores might disappear, and what the impact will be on local communities.
Stay informed about retail trends and closures in Ireland by following our blog for updates and analysis.