Britain seeks to halt decline in town centre retail

Published 17th May 2011

The government said Tuesday it was getting Mary Portas to review the country's high streets to examine how to halt rising shop vacancy rates and increase the number of independent stores in local town centres.

Vacancy rates have more than doubled to 14.5 percent on high streets over the past two years, hit by a weak economy and a trend for retailing to move out of town or online.

The variety of stores in town centres has also been declining as chains establish themselves across the nation, leading to consumer complaints that high streets have become indistinguishable from town to town.

"The high street should be at the very heart of every community, bringing people together, providing essential services and creating jobs and investment," Prime Minister David Cameron said. "So, it is vital that we do all that we can to ensure they thrive."

Retail consultant and television presenter Mary Portas will lead the review and report back by autumn.

Figures released by the business department showed more than a third of shops were vacant in the worst-hit town centres such as in Margate and Leigh Park in southeast England.

Town centres have also seen their share of total retail spending fall to 42 percent last year from just under 50 percent in 2000. Town centre sales grew 1.5 percent from 2005-10, compared with the 11.5 percent increase enjoyed by out-of-town retailers.

Source: ' Reuters '

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