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Will the UK high street ever be the same again?

As we see the likes of MFI, Woolworths and a whole host of other well-known names leave the high Street there are growing concerns that the UK high street is changing forever. This is an area of the economy which survived the online revolution but appears to have been knocked for six by the credit crunch from America and the ongoing worldwide economic slowdown.

In so many areas of the UK the high street is more than just an employment centre and is often the fabric of many local economies with councils now set to feel the pain of reduced taxes over the next few years. Reduced taxation and council charges in relation to that these failed businesses will see council budgets come under more and more pressure at a time when taxpayers cannot afford to cover the shortfall. How this will pan out in the medium to long term remains to be seen but there are serious concerns about how the high street in the UK is changing.

There is a growing feeling that the UK banking sector could maybe have done more for the likes of MFI and others in this situation put on a rather sombre note it appears that for the likes of Woolworths, the writing was on the wall sometime ago.

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