UK Retail Store Closures Increase Tenfold in 2012
As parking restrictions take there toll on retail and the internet takes evermore customers away from the high street, pound stores, pawnbrokers, charity shops, cheque cashing or payday loans premises, betting shops, supermarkets and cafes scramble to fill the empty facades as cash-strapped consumers flock to discount food sellers.
ALDI and LIDL who are actively squeezing themselves into empty new build retail in town center building plots, with facilities for free parking and where freeholds show a much more profitable return than renting on an expensive lease.
Major retailers like Staples and PC World are consolidating space in town and out of town but halving retail areas and saving rent and rates into the bargain......
An unprecedented level of large-scale retail collapses pushed the number of store closures among multiple retailers up tenfold in 2012.
Last year 1,779 stores from multiple retailers were shuttered, compared to just 174 shops in 2011.
In 2012 an average of 20 stores closed down every day. That number has surged to 28 per day in the three months to the end of February, driven by the administrations of retail giants Jessops, Blockbuster and HMV.....Read more