We had lots of stores close here around 6 or 7 years ago. Some of them had been around for 30 or 40 years so it was a bit sad to see some of them go. The last few years a fair few new ones have opened to take their place, they actually seem better than the old ones too, more variety, cheaper equipment etc. We have all the big PetBarns popping up but no serious fishkeepers go near them. One thing I have noticed is all the old shops were on main shopping streets and the new breed are in industrial estates. I guess the rent is cheaper, as they sell a niche product people dont mind travelling a bit out of their way to get to them. I like the fact its always much easier to park the car now instead of driving up and down a bust street ans stuffing money into the meter!
Overall i would say its the hobby is growing or at least stable at a healthy level, most times the shops are busy when I visit, they are all independently owned too so the owner can make decisions on what to order in and stock which keeps things fresh and interesting and have that fish club feeling where you can hang out and chat with the regulars if thats your thing.