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The Welsh Retail Consortium has revealed that just under a fifth of retail premises in Wales are currently vacant – rising from 15.9% to 18% during the third quarter of 2020. This is said to be the largest increase in vacant shops anywhere in the UK.
Reportedly, only the north-east of England has a higher vacancy rate than Wales at 18.9%. Shopping centres were said to have more vacancies in Wales than out-of-town retail parks.
One positive note was a reported increase in the number of independent businesses opening in town and city centres as major chains see a decline.
In the last few days, it was announced that the Cardiff-based clothing retailer, Peacocks, will go into administration following its owner Edinburgh Woollen Mill. There are still hopes for a sale to interested parties and no store closures have yet been announced, though the new potentially puts more than 4,700 jobs at risk.
