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One in five shops could be empty after recession

As many as one in five shops could be vacant by the time the recession is over, according to a report by PricewaterhouseCoopers.

The impact of the consumer slowdown could result in a sharp rise in shops closing their doors which could leave as many as 20% of shop units "void", according to PwC.

PwC estimates that 3,600 shops could be seeking new tenants if 10% of national retailers get into difficulty over the next year.

A raft of fashion retailers including Stead & Simpson, Faith and MK One, have already gone into administration this year. However all of these chains were rescued, though often with slimmed down shop portfolios.

Readers' comments (3)

  • Definitely more administrations to come post rent day on December 24. I will be watching with interest all the empty shops coming onto the market alongside all the swanky new shopping centres. Over-shopper and spent up. Not a good place to be in 2009.

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  • Definitely more administrations to come post rent day on December 24. I will be watching with interest all the empty shops coming onto the market alongside all the swanky new shopping centres. Over-shopped and spent up. Not a good place to be in 2009.

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  • ...and rents keep rising. Our LL wants an an extra 75% (oh, but he'll settle on 50%....as he's feeling generous) and then some total idiot, corporate, deadly, frumpy, overpriced. over branded, dull, boring retailer has opened around the corner. Apparently with no incentives and paying stupidly high rent.
    They may not last, but it'll take 2 years for them to decide whether it pays or not....meanwhile they have f*******ed the last few indies in the area....an area that used to be 90% indie.


    Our LL is big greedy property company.......they had a good 10 years but, if they are going to have hard times (as a result of their greed, over valuations and funny 'money from nothing' business models) they want to drag us all down with them.

    It will take a decade for rents to catch up with less demand (go lower) and then areas will just develop into something else.

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