forum@mbicoakley.co.uk    01483 405160

News

11/2018

The High Street is dead! Long live the High Street!

By Admin | Monday, November 19, 2018

The imminent, inevitable, incontrovertible demise of the UK High Street has been written about many times in recent years. So much so, that I have never really thought it worthwhile to put together a piece on a subject that is well travelled ground. Hardly a week goes by without another old established department store group or celebrity chef chain throwing itself at the mercy of its creditors by attempting to downsize and restructure through the Administration or Company Voluntary Arrangement insolvency processes, resulting in closed outlets and job losses. Well that was until earlier this month [the same month that saw the demise of Woolworths 10 years ago] when I started to see the number 14 combined with the words High Street everywhere. Let me explain. At the beginning of the month, one of the “Big Four” accountancy firms came forward with a report showing that High Street shops were closing at the rate of 14 per day in the UK’s top 500 High Streets. The gap between closures and openings has widened to a record level, but it is suggested that closures may have stabilised. The reasons for the decline are well known:

Read more