Shop Vacancies Rising as Recession Continues
The amount of shops left vacant at the end of June has risen to have risen to around one in seven as retailers struggle to cope with the implications of the double-dip recession.
A report from Local Data Company (LDC) made the findings, and revealed that vacancies of shops has increased in all regions across the UK in 2012, apart from London, while the rate of capital fell from 10.7pc to 10.1pc.
The harsh economic climate has made it hard for some major retailers to maintain the amount of stores they have open, while independent retailers have struggled to stay in business, leaving an array of premises’ vacant across the country as more successful retailers shun buying the vacant shops in order to save cash.
Some of the most considerable high street retailers to suffer include video games retailer, Game, which entered into administration in March, as well as JJB Sports who have recently warned shareholders that their stake in the sports goods company may well be worthless.
The outlook is bleak too according to the LDC, who said: “Normal service is unlikely to be resumed any time soon as far as retailers are concerned. For the high street, and especially the secondary shopping centres, it is clear that the current high levels of vacancy are likely to remain”.
Share this..
Related stories
Airlines complain to European Union about passenger compensation
Airlines including British Airways and Ryanair have today complained to the European Union regarding draconian measures which the authorities are looking to use to ensure that airlines reimburse passenger accommodation costs as well as the cost of the travel tickets for those affected by the Icelandic volcanic ash cloud. This has further inflamed a situation which was on the verge of anarchy wi...
Read MoreIt is time to lay off quantitative easing?
While the Bank of England has a whistlestop tour of the UK plan for next week, where such subjects as quantitative easing and other investment strategies will be discussed, it appears that quantitative easing may itself be coming to an end. The Bank of England gave its first indication to the London markets that quantitative easing may end in the short term, despite many people assuming it would b...
Read MoreIs the financial sector the engine room of the UK economy?
Over the last few months the UK government has ploughed billions upon billions of pounds into the UK financial sector as a means to try and kickstart the UK economic revival. So far there has been limited success in this area even though the UK banking sector would appear to be approaching boom times with large bonuses yet again in existence. So is the UK financial sector the engine room of the UK...
Read MoreRMT union forced to call off rail strike
The RMT union has today been forced to call off a planned strike next week which could have coincided with Gordon Brown calling the date of the next election. The strike has been suspended after a court ruling regarding alleged irregularities and the alleged unlawful nature of the strike action. This is a bitter blow to the RMT union and while Network Rail management may be feeling a little happie...
Read MoreRenewed rise in inflation puts pressure on savings
News this week that inflation has picked up to 1.5% from 1.1% has been broadly welcomed by analysts and researchers because ultimately it means in the short term that the UK economy is showing signs of life. However, putting aside the potential problem of increased inflation, there is also concern for those with significant savings in the UK who are currently attracting minimal interest rates....
Read More