Why are there so many empty stores on the high street? Financial Glossary

Why are there so many empty stores on the high street?

While the demise of UK retail chain Woolworth’s hit the headlines some time ago it is believed that in excess of 300 former Woolworth’s stores are still laying empty on high streets up and down the UK. Despite the fact that a number of companies have stepped forward to take on some of the former leases the very fact there are so many stores still empty is a perfect indication of the very difficult environment on the UK high street. The situation looks even worse when you consider the relatively low rental arrangements on offer as landlords look to at least bring in some income from these stagnating assets.

A report recently confirmed that the UK high street is struggling to make ends meet as online shopping becomes something of the norm in the UK. We have seen a massive increase in trading and purchase values from online shoppers and many believe this is just literally the start of a whole new phase in the development of the online arena. UK consumers are now happier than ever to shop online due to a mixture of increased promotions, more discounts as well as massive strides in online security systems. How will the UK high street fight back?

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