Following on from the Chancellor’s Budget last Monday, with business rate relief measures applauded by small retailers, retail has been back in the headlines following a report from APAM, which suggests that over 200 UK shopping centres are in danger of falling into administration.
According to retail analyst Nelson Blackley from the National Retail Research Knowledge Exchange Centre, the closure of anchor stores such as BHS and Toys R Us, coupled with the increase in online shopping, has caused a downward spiral. “If the major anchor store moves out that has a halo effect on the other stores in that centre.”
He added that if centres close, particularly in small towns, it would be “catastrophic.”
Currently, the top ranking shopping centre in the UK is Westfield in West London.
APAM is an independent investment and asset management company.
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