200 UK shopping centres 'in crisis'

[El Cid]

"New data suggests over 200 shopping centres in the UK are in danger of falling into administration, unless their owners secure fresh funding."

 

A government spokesperson said: "It's true that high streets are changing, like they always have, and we're committed to helping communities adapt."

The spokesperson said the government had assembled an "expert panel" to "diagnose the issues currently affecting the high street and develop recommendations that will help them thrive".

 

https://www.bbc.co.uk/news/uk-england-45707529

 

Next has reported a 2 per cent rise in sales during the third quarter, as online growth managed to bolster the retailer against plummeting sales at its high street stores.

The group posted an 8% decline in retail sales, against a 12.7 per cent increase in online sales.

[melthebell]

The governments high street help was announced last week.

 

"small" businesses will get help with rates, the big ones...who are closing most wont.

And it will be easier for property developers to create housing on the high street, so less shops more homes in the high street?

[tinfoilhat]

The governments high street help was announced last week.

 

"small" businesses will get help with rates, the big ones...who are closing most wont.

And it will be easier for property developers to create housing on the high street, so less shops more homes in the high street?

 

Well, we have got a housing crisis and big empty shops. Makes sense to turn them into housing.

[geared]

To be fair though some places are just pretty scabby and either need massive re-development projects or simply just pulling down and flattening.

 

These places aren't designed to last forever. I'm sure most people can name at least one centre that fits this description.

[melthebell]

Well, we have got a housing crisis and big empty shops. Makes sense to turn them into housing.

but we also have a shopping crisis in the high street and niether plan helps that at all?

[lil-minx92]

but we also have a shopping crisis in the high street and niether plan helps that at all?

 

What exactly is a 'shopping crisis'? 1st world problems!

 

" Analyst Nelson Blackley said the demise of "major anchor stores" such as BHS and Toys R Us, and the rise of online retail, had caused a "downward spiral".

 

Many of the at-risk centres are owned by US private equity firms under deals that will need refinancing.

 

"If centres close, particularly in small towns, it will be catastrophic," Mr Blackley said.

 

Catastrophic? Slight exaggeration.

 

Is the next step that the tax payer puts their hand in their pockets to make sure the US Private Equity firms dont make a loss on their investments? Probably.

[melthebell]

What exactly is a 'shopping crisis'? 1st world problems!

Multitudes of stores closing, 1000s of job losses, and various reasons why. and like i said the governments help package announced last week does nothing to address that.

[tinfoilhat]

Multitudes of stores closing, 1000s of job losses, and various reasons why. and like i said the governments help package announced last week does nothing to address that.

 

But it's not like we aren't all buying stuff, we're buying loads, we're just doing it in different ways. 1000s of retail job losses yes, but how many warehousing and delivery jobs? It seems mad to me that we will be chewing up more countryside build more houses only to drive from your new house past loads of empty buildings!

 

---------- Post added 01-11-2018 at 11:22 ----------

 

What exactly is a 'shopping crisis'? 1st world problems!

 

" Analyst Nelson Blackley said the demise of "major anchor stores" such as BHS and Toys R Us, and the rise of online retail, had caused a "downward spiral".

 

Many of the at-risk centres are owned by US private equity firms under deals that will need refinancing.

 

"If centres close, particularly in small towns, it will be catastrophic," Mr Blackley said.

 

Catastrophic? Slight exaggeration.

 

Is the next step that the tax payer puts their hand in their pockets to make sure the US Private Equity firms dont make a loss on their investments? Probably.

 

According to the article elcid put up, some councils are already propping up some centres.

Edited November 1, 2018 by tinfoilhat

[mafya]

"New data suggests over 200 shopping centres in the UK are in danger of falling into administration, unless their owners secure fresh funding."

 

A government spokesperson said: "It's true that high streets are changing, like they always have, and we're committed to helping communities adapt."

The spokesperson said the government had assembled an "expert panel" to "diagnose the issues currently affecting the high street and develop recommendations that will help them thrive".

 

https://www.bbc.co.uk/news/uk-england-45707529

 

Next has reported a 2 per cent rise in sales during the third quarter, as online growth managed to bolster the retailer against plummeting sales at its high street stores.

The group posted an 8% decline in retail sales, against a 12.7 per cent increase in online sales.

 

The same thing has already happened in America over the last couple of years and now it’s the uks turn= http://uk.businessinsider.com/american-retail-apocalypse-in-photos-2018-1

[Lockdoctor]

Well, we have got a housing crisis and big empty shops. Makes sense to turn them into housing.

That's the only logical solution.