One in 10 town centre retail outlets closed down during the first nine months of this year, according to a new survey.
The study from Local Data Company surveyed stores in 705 town centres across the UK. Of the 251,462 outlets monitored, 25,090 closed between January and September.
While department stores, gift shops, travel agents and clothing stores were the worst sufferers, food stores and newsagents also had significant closure rates, with 11% of CTNs and convenience outlets, and 8.3% of grocers, shutting up shop. Around one in nine town centre off licences also closed during the first nine months of the year.
Liz Peace, chief executive of the British Property Federation, commented: “Clearly no one is escaping the recession and it’s vital that ministers offer real help to businesses through a sensible mitigation of the impact of next year’s rise in business rates and a cut in empty property rates.”