Partner Article

Empty shop levels hit 14.6%

The proportion of shops which currently lie empty hit a record high of 14.6% last month, indicating a difficult start to the year for retailers.

According to BBC reports, vacancy rates began to stabilise towards the end of 2011, but rose again in January and February.

Consumer confidence has also slipped in February, which has been attributed to concerns over employment prospects.

Commenting on the news, the Nationwide chief economist Robert Gardner said: “Consumers also scaled back their expectations for the future, with the forward-looking aspects of the index weakening during the month.”

The Local Data Company compiled the statistics, and were unsurprised at the high level of vacant premises, due to cutbacks and insolvency in the retail industry.

They are now calling on the Government to respond to the Portas Review, which details ways to revive ailing town centres. The Review, which was published in 2011, recommended cutting regulation and creating a bigger role for street markets.

Local Data Company director Matthew Hopkinson said: “It is a timely reminder to the government, who are due to respond to the Portas Review this month, of the significant challenges facing town and city centres up and down the country,”

This was posted in Bdaily's Members' News section by Ruth Mitchell .