Retail collapses hurt shopping malls giant
Thursday 26 April 2012
The woes of Game Group added to the headaches of the UK's biggest shopping centres owner yesterday as occupancy levels were hit by a wave of struggling retailers going to the wall.
Capital Shopping Centres owns 14 major centres, including Lakeside at Thurrock. However, the group admitted occupancy was down by 2.4 per cent since the end of 2011.
That's because of failing retailers as well as expiring seasonal pop-up shops. David Fischel, chief executive of Capital Shopping Centres, said Game added to a roll-call of casualties, bringing shops in administration to 3 per cent of the rent roll.
Mr Fischel said: "The UK economy as a whole is pretty flat and the consumer is facing a number of challenges."
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