 Britain has lost 6,000 shops in five years after Covid, the cost-of-living and 'crippling' business rates have forced business owners to close their stores. The number of store front vacancies have increased to 13.9% across Britain in the second quarter of this year, according to the British Retail Consortium (BRC) Local Data Company (LDC) Vacancy Monitor. Shopping centre vacancies remain unchanged from the first quarter at 17.8%, but high street vacancies increased 0.1% to 13.9%. The highest vacancy rates were in the North East and the Midlands, followed by Wales and Scotland. BRC chief executive Helen Dickinson said: 'The past five years saw Britain lose 6,000 retail outlets, with crippling business rates and the impact of the Covid lockdowns a key part of decisions to close stores and think twice about new openings. 'To inject more vibrancy into high streets and town centres, and prevent further store closures, Government should review the broken business rates system. 'Currently, there's an additional £400 million going on retailers' bills next April, which will put a brake on the vital investment that our towns and cities so desperately need. 'The Government announcement earlier in the week about making changes of use to vacant units easier is welcome but it's important local councils have a cohesive plan, and don't leave gap-toothed high streets that are no longer a customer destination and risk becoming inviable. Has your local high street been hit by shop closures? Email Brooke.Davies@metro.co.uk or webnews@metro.co.uk Some 6,000 shops have shut in the last five years (Picture: Matthew Horwood/Getty Images) 'Government should go one step further and freeze rates bills next year.' Lucy Stainton, commercial director at the LDC, said: 'Across all location types, vacancy has reached critical levels, highlighting an ever-increasing need to redevelop units to breathe life back into){kind=link}
NEWS… BUT NOT AS YOU KNOW IT
Britain has lost 6,000 shops in five years after Covid, the cost-of-living and ‘crippling’ business rates have forced business owners to close their stores.
The number of store front vacancies have increased to 13.9% across Britain in the second quarter of this year, according to the British Retail Consortium (BRC) Local Data Company (LDC) Vacancy Monitor.
Shopping centre vacancies remain unchanged from the first quarter at 17.8%, but high street vacancies increased 0.1% to 13.9%.
The highest vacancy rates were in the North East and the Midlands, followed by Wales and Scotland.