Nearly three times as many high street shops were lost in 2014 compared with the previous year amid continuing pressure from online sales and changing consumer habits.
While the number of stores closing remained at the level of around 16 a day, fewer new shops opened.
Research for PwC compiled by the Local Data Company showed the rate of net closures rose from 371 in 2013 to 987 last year.
However, this is still below the record high of 1,779 net closures in 2012.
New regulations have seen almost a fifth of payday shops shut, mergers have hit mobile phone shops by a similar amount, and pawnbrokers are also disappearing.
Meanwhile, the big winners are tobacconists and E-cigarette retailers, restaurants serving British cuisine and mail shops catering for sending goods abroad.
Overall, 5,839 stores closed in 2014 compared to 6,033 in the previous year.
However, fewer stores opened with 4,852 in 2014 and 5,662 the year before.
The figures come as the Treasury announced a review of business rates aimed at ensuring the system of annual property tax is 'fair'.
Mike Jervis, insolvency partner and retail specialist at PwC said: "This year's numbers expose the harsh impact of 'macro' changes on the high street, especially in certain sub-sectors.
"Regulation has blindsided the money shops, the advance of technology has hammered some phone operators and the internet continues to dent the clothing sector.
"Despite the benign economy, the net loss of shops has accelerated.
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Gallery: The changing face of Britain's high streets
The High Street in Bath in 1804. This view shows the White Lion Hotel (right) the Town Hall and market with the Abbey at the end of the road
A horse-drawn cart piled with baskets in Covent Garden, London, in 1900
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