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Empty stores in British town centers soar to a record
Source: Agencies |
November 20, 2012, Tuesday
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Print Edition
THE proportion of empty shops in British town centers hit a record in October in the face of stagnating sales and rising costs, a survey published by the British Retail Consortium yesterday said.
Year 2012 has seen several high profile retail failures, including sportswear group JJB Sports, outdoor goods group Blacks Leisure, video games retailer Game and greetings card firm Clinton Cards. Though they all re-emerged in some form, hundreds of stores have closed.
The retail lobby group said the proportion of empty stores on United Kingdom high streets and in shopping centers was 11.3 percent in October, the highest figure since the BRC began publishing the survey in July 2011 and 0.4 percent worse year-on-year.
It said Northern Ireland (20 percent), Wales (15.1 percent) and the North and Yorkshire (14.6 percent) had the highest vacancy rates.
"This new high in empty shop numbers really sets alarm bells ringing," said BRC Director General Stephen Robertson, adding the survey "confirms that financial challenges for both customers and retailers are far from over."
Year 2012 has seen several high profile retail failures, including sportswear group JJB Sports, outdoor goods group Blacks Leisure, video games retailer Game and greetings card firm Clinton Cards. Though they all re-emerged in some form, hundreds of stores have closed.
The retail lobby group said the proportion of empty stores on United Kingdom high streets and in shopping centers was 11.3 percent in October, the highest figure since the BRC began publishing the survey in July 2011 and 0.4 percent worse year-on-year.
It said Northern Ireland (20 percent), Wales (15.1 percent) and the North and Yorkshire (14.6 percent) had the highest vacancy rates.
"This new high in empty shop numbers really sets alarm bells ringing," said BRC Director General Stephen Robertson, adding the survey "confirms that financial challenges for both customers and retailers are far from over."
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