Photo credit: David Sillitoe
The Guardian has reported that the UK’s high streets have the highest volume of empty stores compared to any other time in the last four years, as retailers suffered an influx of post- Christmas closures.
The Local Data Company told the Guardian that the monthly barometer of shop vacancies had jumped to 14.6 per cent last month after settling last year at 14.3 per cent.
The release of these figures reinforce the already bleak picture being painted of Britain’s high street stores, alongside official figures released by ONS showing the drop in retail sales volumes month-on-month.
This report comes at an uncomfortable time for the chancellor, just days after releasing the budget which outlined plans to cut taxes for the wealthy whilst taking money from the pensioners and some working families.
The recent decline in inflation from above 5 per cent has eased the strain on the household finances, yet February’s figures showed a 0.4 per cent drop in retail sales values, showing that consumers are still reluctant to spend.