
Shop closures hit record level as ‘golden quarter’ lost to COVID
A record percentage of retail space is lying empty as the coronavirus crisis places intolerable pressure on businesses, according to industry data.The latest BRC-LDC vacancy monitor, which excludes stores forced to shut their doors because of COVID-19 restrictions, found 13.7% of all shops were empty in the final quarter of 2020. Store vacancies had stood at 13.2% in the previous three months to September - a time when the sector had hoped to be in a position to recover lost sales in the run-up to the so-called golden quarter of Christmas. But a renewed tightening of restrictions UK-wide to control the spread of the virus, including lockdowns, since has meant that many retail businesses missed out on the chance to fully cash in.Retail parks fared best with no change at 10% though shopp...