“The transformation of retail was already underway, but the cost of living crisis has dramatically accelerated the closure of stores that might otherwise have survived another few years.”
“Discretionary spending has collapsed in many categories and footfall on high streets outside major city centres remains stubbornly below pre-pandemic levels.”
“Meanwhile, business rates continue to penalise physical retail in a way that online competitors simply do not face, an imbalance that the Government has failed to correct.”
