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.
Read more: http://www.thisismoney.co.uk/money/news/article-2119197/Shop-vacancies-hit-time-high-retailers-feel-post-Christmas-pain.html#ixzz1pwTuVefn
Another sign of a sluggish economy. I hate seeing lots of boarded up shops on the High Street!
It is surely a sad reality that not many people in UK are willing to spend on extra stuff after paying for their food, rentals, and petrol. I can't say this is sudden because we all knew one way or another that recession will be catching up... probably in every nation. It is also a factor that today, high street stores are not that convenient when people can buy everything in a supermarket under one roof with lower pirces. Online stores can also be a factor since there are some established company (I wont mention the name) who said that they might be closing down over 180 stores all over the country with in the next few years because they will be concentrating with their potential as an online store. It is sad to see familliar shops closed down, but I guess that's just how it is....