31/07/2009 - Number of empty shops increases
The number of empty shops has doubled in some areas as the recession tightens its grip on the UK economy, a report has revealed.
Some regions are coping better with the downturn than others with vacancy rates doubling in the North since the middle of last year. This is compared to a 25% increase in empty shop numbers in Wales and the West during the same period, according to researcher Local Data Company (LDC).
Independent stores have taken the most damage with nearly 12,000 shops closing this year compared to almost 7,000 chain stores, the report showed.
"Just as thriving town centres demonstrate vitality, empty shops lay bare weakness and failure. Empty shops have a corrosive effect upon the confidence of any area - and their numbers are growing," LDC said.
A lack of available credit combined with the weak pound causing stock costs to rise and a collapse in consumer confidence has caused the high street to take a battering. Some 27,000 workers lost their jobs when more than 800 Woolworths stores closed throughout the country. Retailers such as Iceland, Sainsbury's and Tesco have taken on some of its stores, but LDC said about 70% of the shops remain empty.
Copyright © Press Association 2009
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