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12,000 stores 'closed this year' 12,000 stores 'closed this year'
(about 9 hours later)
About 12,000 independent shops and nearly 7,000 branches of major chains have closed so far this year in England and Wales, according to research.About 12,000 independent shops and nearly 7,000 branches of major chains have closed so far this year in England and Wales, according to research.
The Local Data Company (LDC) says the average retail vacancy rate has risen from 4% a year ago to almost 12% now.The Local Data Company (LDC) says the average retail vacancy rate has risen from 4% a year ago to almost 12% now.
Margate in Kent is the worst hit town, with a rate of 25%. Cities in the north of England like Leeds and Liverpool also have rates of more than 20%.Margate in Kent is the worst hit town, with a rate of 25%. Cities in the north of England like Leeds and Liverpool also have rates of more than 20%.
LDC said empty shops had "a corrosive effect upon the confidence of an area".LDC said empty shops had "a corrosive effect upon the confidence of an area".
The collapse of Woolworths has had a major impact on high streets, LDC said, with about 70% of its 800-plus shops still lying empty.The collapse of Woolworths has had a major impact on high streets, LDC said, with about 70% of its 800-plus shops still lying empty.
'Weakness and failure''Weakness and failure'
DERBY CASE STUDY We're a little island here amongst all the shops advertised to let. The situation is really dire Steve Frost, owner Music Man Retailers struggle amid empty shops
The research suggests that northern England and the Midlands have generally fared worst.The research suggests that northern England and the Midlands have generally fared worst.
At 22%, Derby has the highest retail vacancy rate of any major urban centre, with Wolverhampton close behind.At 22%, Derby has the highest retail vacancy rate of any major urban centre, with Wolverhampton close behind.
The damage is spread across the country and affects all levels of the retail hierarchy The Local Data Company
The south of England generally fared better, with only Croydon and Exeter featuring among the 10 worst town centres with vacancy rates of 15.4% and 14.9% respectively.The south of England generally fared better, with only Croydon and Exeter featuring among the 10 worst town centres with vacancy rates of 15.4% and 14.9% respectively.
In central London, 12.8% of shops are empty.In central London, 12.8% of shops are empty.
Nottingham was one of the best performers, with a rate of just 2.5%.Nottingham was one of the best performers, with a rate of just 2.5%.
"Just as thriving town centres demonstrate vitality, empty shops lay bare weakness and failure," LDC said."Just as thriving town centres demonstrate vitality, empty shops lay bare weakness and failure," LDC said.
"Empty shops have a corrosive effect upon the confidence of any area - and their numbers are growing."Empty shops have a corrosive effect upon the confidence of any area - and their numbers are growing.
"The damage is spread across the country and affects all levels of the retail hierarchy from the largest regional centre to the smallest high street.""The damage is spread across the country and affects all levels of the retail hierarchy from the largest regional centre to the smallest high street."
'Failure to trade''Failure to trade'
The study said there had been a 50% drop in new store openings in the past 18 months and in some areas, a marked increase "churn" - where a shop is opened and closed repeatedly under new guises.The study said there had been a 50% drop in new store openings in the past 18 months and in some areas, a marked increase "churn" - where a shop is opened and closed repeatedly under new guises.
The highest churn rate, more than 700%, was found in Wakefield, West Yorkshire, with the next worst - Wolverhampton - seeing a rise of 387%.The highest churn rate, more than 700%, was found in Wakefield, West Yorkshire, with the next worst - Wolverhampton - seeing a rise of 387%.
RETAIL VACANCY RATES Margate: 25%Derby: 22%Croydon: 15.4%Central London: 12.8%RETAIL VACANCY RATES Margate: 25%Derby: 22%Croydon: 15.4%Central London: 12.8%
"In a recession, churn tends to be driven more by a failure to trade and this time around has not been an exception," LDC said."In a recession, churn tends to be driven more by a failure to trade and this time around has not been an exception," LDC said.
The research firm did say there were some signs of recovery, with official figures showing an increase in sales volumes of 2.9% in June compared to the previous year.The research firm did say there were some signs of recovery, with official figures showing an increase in sales volumes of 2.9% in June compared to the previous year.
This was "way above expectations and could set the scene for a stronger than expected second half of the year," it said.This was "way above expectations and could set the scene for a stronger than expected second half of the year," it said.
"However, this has to be balanced against continued rises in unemployment and therefore less spending power overall.""However, this has to be balanced against continued rises in unemployment and therefore less spending power overall."
In some towns, including Margate, councils have offered vacant premises to local artists to display their work and try to improve the appearance of the high street.In some towns, including Margate, councils have offered vacant premises to local artists to display their work and try to improve the appearance of the high street.

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