TLTP
LONDON
More than one-in-ten British shops now stand empty, reflecting recent widespread closures which are partly the result of the coronavirus crisis, a report on Thursday showed. The UK’s retailers have been reported for struggling with high rents and online competition even before coronavirus lockdowns struck.
Researcher Springboard said the vacancy rate rose to 10.8 percent in July, from 9.8 percent in January 2020, reaching its highest level since January 2014 as Britain’s store-based retail sector, outside of food, was hit by a lockdown to counter the pandemic.
Already weak players such as Laura Ashley, Debenhams, Oasis Warehouse, Cath Kidston and Monsoon/Accessorize have all gone into administration, with the loss of thousands of jobs.
