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Trade News Archive 2009 January February March April May June July August September October November December
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11th February 2010
UK retailers facing closure epidemic
Britain's retailers are under threat, with the rate of store closures increasing over the last six months of 2009, it has been revealed.
Research from the Local Data Company indicates that retail vacancy rates across the UK increased by two per cent in the half-year period.
Vacancy rates are now at 12 per cent, with some towns seeing a cessation in trade in as much as 24 per cent of outlets.
Stephen Robertson, British Retail Consortium director general, said that while the surrounding economic conditions were difficult for stores, it was imperative that the future of the UK's high streets were secured.
He said: "High street shops are often battling big bills for business rates and rents [but they] are the heart of local communities and economies, providing jobs and essential services.
"Their future success cannot be left to chance. Town centres need to be actively managed by local authorities with their retailers, other businesses and residents."
While the recession has had a significant impact on the UK's high streets, many also believe that an increase in the popularity of internet shopping is affecting footfall.
© 2010
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