12/01/2009 - Empty shops to 'increase by 15%'
Towns across the UK have fallen victim to the deepening economic gloom as shops such as Woolworths and MFI shut up their doors for good.
According to research by consultancy Experian, some small market towns could lose up to half of their retailers as firms fold under the pressure of high costs and falling consumer spending. Experian predicted that the number of empty shops across the UK could increase to 135,000 by the end of the year - a rise of 15%.
Many retailers have had a challenging Christmas, with a number of household names, such as Woolworths, going into administration. Woolworths closed the last of its 807 stores this week, with a total loss of 27,000 jobs.
Jonathan de Mello, director of retail consultancy at Experian, said the effects from business failures such as the Woolworths collapse would be felt in smaller high streets.
Towns like Thorne near Doncaster for example that have a large Woolworths, Boots and a few independents could lose 50% of its multiple retailers in one swoop," he said.
Copyright © Press Association 2009
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