High street vacancies jump to record high

Declining footfall, poor sales and more shop closures set alarm bells ringing

Shop vacancy rates have hit a record high to set "alarm bells ringing" with more stores set to be thrown on the market over the coming weeks with the expected liquidation of Comet, the failed electricals retailer.

Footfall also tumbled in October to reinforce just how challenging trading conditions remain on the high street ahead of the crucial Christmas period, as the five-year consumer downturn shows few signs of abating.

The vacancy rate for UK town centre shops jumped to 11.3 per cent last month from 10.9 per cent in July, according to the British Retail Consortium and Springboard survey, with Northern Ireland having the most empty stores.

Stephen Robertson, the BRC's director general, said: "This new high in empty shop numbers really sets alarm bells ringing. It's the worst vacancy rate since the survey began in July 2011, and confirms that financial challenges for both customers and retailers are far from over."

The dire data comes as Deloitte, the administrator to Comet, plans to close 41 stores by the end of November, unless a buyer can be found for the stricken chain, which seems highly unlikely. The accountancy firm began a "closing down sale" in 27 Comet stores on Saturday.

While big chains, such as John Lewis, Next, Debenhams and Sainsbury's, continue to grow profits, retail sales volumes tumbled by a worse-than expected 0.8 per cent in October, according to the Office for National Statistics.

A worrying 20 per cent of town centre shops in Northern Ireland are now empty, while the figure is 15.1 per cent in Wales and 14.6 per cent in the North and Yorkshire.

The Olympics helped footfall on the high street to inch up by 0.3 per cent in August, but it tumbled by 2.6 per cent last month. Visitors to out-of-town retail parks also fell by 0.5 per cent and by 2.1 per cent to shopping centres in October.

Mr Robertson said: "Many retailers are battling stagnating sales and rising costs, and next year's threatened business rates increase can only make matters worse. If the Government wants to breathe life back into our town centres and ensure the retail industry can play its full role in job creation it needs to freeze rates in 2013."

Business rates have risen by more than 10 per cent in the last two years, and are set to rise by 2.6 per cent in April next year, if they are based on September's retail price index.

However, Mr Robertson pointed out that overall footfall in the UK was only down by 0.4 per cent over the three months to October, an improvement on the 3.3 per cent fall in the previous quarter to May.

Mr Robertson said: "It's a little more cheering to see footfall suffering less than the previous quarter, but shopper numbers were still no better than a year ago. The figures follow a similar pattern to our retail sales monitoring. September's cold snap drew the crowds stocking up on warmer clothing. But, while the Olympics appears to have brought people out on to high streets, that didn't translate into a surge in spending."

This week, the bike retailer Halfords, the maternity specialist Mothercare, and the wine warehouse chain Majestic Wine, as well as the fashion groups New Look, Topshop-owner Arcadia, and French Connection, will update on trading.

Life and Style
Customers can get their caffeine fix on the move
food + drink
Life and Style
techCould new invention save millions in healthcare bills?
Voices
Mosul dam was retaken with the help of the US
voicesRobert Fisk: Barack Obama is following the jihadists’ script
Arts and Entertainment
Loaded weapon: drugs have surprise side effects for Scarlett Johansson in Luc Besson’s ‘Lucy’
filmReview: Lucy, Luc Besson's complex thriller
PROMOTED VIDEO
Arts and Entertainment
Jamie T plays live in 2007 before going on hiatus from 2010
arts + ents
News
peoplePamela Anderson rejects ice bucket challenge because of ALS experiments on animals
Life and Style
food + drinkThese simple recipes will have you refreshed within minutes
Arts and Entertainment
tvExecutive says content is not 'without any purpose'
News
A cleaner prepares the red carpet for the opening night during the 59th International Cannes Film Festival May 17, 2006 in Cannes, France.
newsPowerful vacuum cleaners to be banned under EU regulations
Arts and Entertainment
tvSpielberg involved in bringing his 2002 film to the small screen
Sport
sportLeague Managers' Association had described Malky Mackay texts as 'friendly banter'
News
A polar bear’s diet is rich in seal blubber and half of its own body weight is composed of fat
i100
News
ebooksAn evocation of the conflict through the eyes of those who lived through it
News
peopleCareer spanned 70 years, including work with Holocaust survivors
News
people
Travel
Flocking round: Beyoncé, Madame Tussauds' latest waxwork, looking fierce in the park
travelIn a digital age when we have more access than ever to the stars, why are waxworks still pulling in crowds?
News
London is the most expensive city in Europe for cultural activities such as ballet
arts
Arts and Entertainment
Jeremy Clarkson has rejected criticisms of his language, according to BBC director of television Danny Cohen
tv
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Generalist HR Administrator, Tunbridge Wells, Kent - £28,000.

£25000 - £28000 per annum: Ashdown Group: Generalist HR Administrator - Tunbri...

Application Support - Enterprise Java, SQL, Oracle, SQL Server

£45000 - £55000 per annum: Harrington Starr: A well-established financial soft...

Service Desk Analyst (Graduate, Helpdesk, Desktop, Surrey)

Negotiable: Harrington Starr: Service Desk Analyst (Graduate, Helpdesk, Deskto...

Service Desk Analyst (Graduate, Helpdesk, Desktop, Surrey)

Negotiable: Harrington Starr: Service Desk Analyst (Graduate, Helpdesk, Deskto...

Day In a Page

Air strikes? Talk of God? Obama is following the jihadists’ script

Air strikes? Talk of God? Obama is following the jihadists’ script

The President came the nearest he has come yet to rivalling George W Bush’s gormless reaction to 9/11 , says Robert Fisk
Ebola outbreak: Billy Graham’s son declares righteous war on the virus

Billy Graham’s son declares righteous war on Ebola

A Christian charity’s efforts to save missionaries trapped in Africa by the crisis have been justifiably praised. But doubts remain about its evangelical motives
Jeremy Clarkson 'does not see a problem' with his racist language on Top Gear, says BBC

Not even Jeremy Clarkson is bigger than the BBC, says TV boss

Corporation’s head of television confirms ‘Top Gear’ host was warned about racist language
Nick Clegg the movie: Channel 4 to air Coalition drama showing Lib Dem leader's rise

Nick Clegg the movie

Channel 4 to air Coalition drama showing Lib Dem leader's rise
Philip Larkin: Misogynist, racist, miserable? Or caring, playful man who lived for others?

Philip Larkin: What will survive of him?

Larkin's reputation has taken a knocking. But a new book by James Booth argues that the poet was affectionate, witty, entertaining and kind, as hitherto unseen letters, sketches and 'selfies' reveal
Madame Tussauds has shown off its Beyoncé waxwork in Regent's Park - but why is the tourist attraction still pulling in the crowds?

Waxing lyrical

Madame Tussauds has shown off its Beyoncé waxwork in Regent's Park - but why is the tourist attraction still pulling in the crowds?
Texas forensic astronomer finally pinpoints the exact birth of impressionism

Revealed (to the minute)

The precise time when impressionism was born
From slow-roasted to sugar-cured: how to make the most of the British tomato season

Make the most of British tomatoes

The British crop is at its tastiest and most abundant. Sudi Pigott shares her favourite recipes
10 best men's skincare products

Face it: 10 best men's skincare products

Oscar Quine cleanses, tones and moisturises to find skin-savers blokes will be proud to display on the bathroom shelf
Malky Mackay allegations: Malky Mackay, Iain Moody and another grim day for English football

Mackay, Moody and another grim day for English football

The latest shocking claims do nothing to dispel the image that some in the game on these shores exist in a time warp, laments Sam Wallace
La Liga analysis: Will Barcelona's hopes go out of the window?

Will Barcelona's hopes go out of the window?

Pete Jenson starts his preview of the Spanish season, which begins on Saturday, by explaining how Fifa’s transfer ban will affect the Catalans
Middle East crisis: We know all too much about the cruelty of Isis – but all too little about who they are

We know all too much about the cruelty of Isis – but all too little about who they are

Now Obama has seen the next US reporter to be threatened with beheading, will he blink, asks Robert Fisk
Neanderthals lived alongside humans for centuries, latest study shows

Final resting place of our Neanderthal neighbours revealed

Bones dated to 40,000 years ago show species may have died out in Belgium species co-existed
Scottish independence: The new Scots who hold fate of the UK in their hands

The new Scots who hold fate of the UK in their hands

Scotland’s immigrants are as passionate about the future of their adopted nation as anyone else
Britain's ugliest buildings: Which monstrosities should be nominated for the Dead Prize?

Blight club: Britain's ugliest buildings

Following the architect Cameron Sinclair's introduction of the Dead Prize, an award for ugly buildings, John Rentoul reflects on some of the biggest blots on the UK landscape