THE number of empty shops in Britain hit its highest rate in four years in July, industry data showed yesterday, adding to the growing gloom in the retail sector. The survey from researcher Springboard found the national town center vacancy rate was 10.3 percent in July, up from 10.2 percent in the previous quarter and the highest since January 2015. Shopper footfall also fell by 1.9 percent, the worst decline for July since 2012. It was down 2.7 percent on U.K. high streets and down 3.1 percent at shopping centers but up 1.2 percent at retail parks. “The ongoing challenges faced by bricks and mortar destinations is reflected in the rising vacancy rate, which has increased in every quarter since January 2018,” said Diane Wehrle, Springboard’s marketing and insights director. Helen Dickinson, chief executive of lobby group, the British Retail Consortium (BRC), reiterated her call for help from the government, including a freeze on business rates. “If the government wishes to avoid seeing more empty shops in our town centers then they must act to relieve some of the pressure bearing down on the high street,” she said. She noted that the retail sector accounts for 5 percent of the economy, yet pays 10 percent of all business costs and 25 percent of all business taxes. (SD-Agencies) |