The high streets in local towns continue faces an uncertain future with possible closures from high street mainstays Boots, reflecting a wider trend of retail and banking services scaling back their physical presence in UK towns.

Boots, which employs 52,000 people and has branches in Abergavenny and Crickhowell is set to shutter 300 stores across the country within the next 12 months. Although the fate of the local branches remain uncertain, the nationwide closure plan comes as a blow to the local community.

"We will continue to optimise our locations and opening hours," said James Kehoem, global chief financial officer at Walgreens, the parent company of Boots. This forms part of an overarching strategy to reduce Boots' locations from 2,200 stores to approximately 1,900.

Walgreen Boots Alliance on Tuesday reported Boots had growth of 13.4 per cent in the third quarter of its financial year, compared to the year before, and continues to increase its market share.