store-closure programmes: The figures suggest this year will be even worse than 2018, when a series of high-profile company failures and store-closure programmes claimed nearly 20,000 stores and 150,000 jobs, according to The Guardian. They include both multiples or chains as well as independent stores and in the hospitality sector restaurants and casual dining outlets. More than 23,000 shops are forecast to close in 2019, according to the findings published on Monday in an annual report from the real estate adviser Altus Group. The seismic shift in shopping habits in the UK prompts the authors to predict that the overall value of retail property will tumble by 15.9% this year as shoppers are lured away from the high street by online alternatives. The most recent official figures available showed the number of shops, pubs and restaurants lying empty soared in the first six months of 2018. Many high streets are struggling with fewer customers and the shift to online shopping.
(news.financializer.com). As
reported in the news.
Tagged under store-closure programmes, stores topics.