New research by PricewaterhouseCoopers and the Local Data Company reports that an average of 20 shops are closing every day on the UK’s high streets. A combination of high costs and low comsumer spending have been pushed up by nine per cent in the second quarter of 2011, with big name brands like Habitat and Jane Norman among the 375 retailers falling into insolvancy in recent months.
The British Retail Consortium is calling on the Government to take action to stop the decline worsening. Stephen Robertson, Director General of the BRC, had this to say:
“The government’s review of the high street – headed up by television presenter Mary Portas – comes at a crucial time and must result in urgent action. Practical steps are needed to protect and promote our high streets so they remain attractive locations where businesses of all kinds can thrive.”