6/4/2009 10:32:00 AM
Fears of ‘ghost town’ high streets as more retailers run into difficulties
A consultancy firm has outlined its projection that 20% of all retail stores could be empty by the time the economy improves.
Fears of ‘ghost town’ high streets were voiced by PricewaterhouseCoopers, which estimated there would be around 3,600 ‘void shops’ if 10% of retailers run into cashflow and trading problems over the coming year.
Mobile retail chains, especially operator stores, have been exploiting retailers outside of the telecoms industry in difficulty, by snapping up sites for cheap rates and with better terms.
Around 30 retailers have already gone bankrupt in 2009 including Clinton Cards and MFI, which followed the high profile collapse of Woolworths last year.