SPREAD OF ‘EMPTY SHOP’ SYNDROME
Listed under: News
Published: Friday, February 12, 2010
The number of shop vacancies across the UK has doubled since the end of 2008
One in five outlets in particularly hard-affected areas, such as the Midlands, Kent and the North East now stand empty, according to a new study from the Local Data Company.
Margate tops the table with 27.2% of its shops empty, followed by the usually large retail hub of Wolverhampton, which reports 23.9% less outlets.
The rise of online shopping and lack of Government support are cited as reasons for the demise. “Brits now do more shopping over the web, so we're seeing a fundamental reshaping of the highstreets,” said Liz Pearce, chief executive of the British Property Federation. “The next Government will need to balance cuts in spending with ideas for reinvigorating regions that have suffered from years of underinvestment,” she added.
In the interim, the problem is having a noticeable impact on both chain stores and independents.
“You hear about highstreet multiples going into administration all the time and at least five or six independents have closed on our street in the past year,” said Arminda Banger, owner of Deli flavour in Leicester. “We're doing quite well at the moment, but having so many boarded up stores doesn't do much to encourage new businesses to open up. It also makes the area quite off-putting to customers,” he concluded.
Margate tops the table with 27.2% of its shops empty, followed by the usually large retail hub of Wolverhampton, which reports 23.9% less outlets.
The rise of online shopping and lack of Government support are cited as reasons for the demise. “Brits now do more shopping over the web, so we're seeing a fundamental reshaping of the highstreets,” said Liz Pearce, chief executive of the British Property Federation. “The next Government will need to balance cuts in spending with ideas for reinvigorating regions that have suffered from years of underinvestment,” she added.
In the interim, the problem is having a noticeable impact on both chain stores and independents.
“You hear about highstreet multiples going into administration all the time and at least five or six independents have closed on our street in the past year,” said Arminda Banger, owner of Deli flavour in Leicester. “We're doing quite well at the moment, but having so many boarded up stores doesn't do much to encourage new businesses to open up. It also makes the area quite off-putting to customers,” he concluded.
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There are currently 1 comments - Have Your Say Today
It seems to me that shop closures are accelerated by the ever-growing power and dominance of the major multiple grocers and this is an unhealthy position for the market to be in. Independent shops definitely make for more interesting and enjoyable shopping but sadly they are disappearing.