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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”.

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