Empty shops in the UK’s high streets hit a four-year high in February, alarming figures showed on Friday, as retailers suffered of series of closures after the Christmas period.
According to the Local Data Company, town centre vacancy rates jumped to an average of 14.6 per cent last month, the highest figures since records began four years ago.The figures, up from 14.5 per cent in January, equate to almost one in seven shops closing in the country.
‘The latest increase is not unexpected as post-Christmas occupancy levels drop and retailer failures continue,’ said Matthew Hopkinson, director at the LDC.
And the trend looks set to continue after troubled Game Group announced plans this week to call in the administrators in what appears to be one of the biggest retail casualties of the year - the move puts hundreds of UK shops at risk.
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