In the US, city and town centers were first hit hard mid-20th century by the Interstate Highway System which enabled suburban sprawl and big-box retailers. Later came e-commerce. When something does take the place of a local shop or restaurant, it often ends up being a chain of some kind. Add the post-pandemic shift to hybrid work and you also see a huge increase of office space vacancies.

There's also the fact that property developers, commercial landlords, and institutional lenders frequently favor corporate tenants over independent operators. Rising property values and high commercial rents also price out local, independent owners.

However, there have been some exceptions under the New Urbanism banner where you see localized revivals. Some cities (like Jersey City) cap chain occupancy of retail space to 30%. Portland and Austin use zoning rules to make commercial real estate unattractive to chains. Commercial community land trusts can also be used to freeze rent and make space more affordable for local businesses. I doubt there's a one-size-fits-all approach.