The demise of big name retailers makes headlines on an almost daily basis. Landlords can no longer assume a “big name” tenant means long term rental security as these tenants often seek the negotiated protection of a Creditors Voluntary Arrangement or CVA.
However, there are other costs that can’t be negotiated such as business rates, since not paying is a criminal offence.
Pressures on the high street where legacy retailers locked into high rents, long leases and large rate bills are facing the low cost business model of on-line retailers such as Amazon, are in a difficult position to combat this retail phenomena.
As if this is not enough, Brexit has begun to add more pressure on high street retailers where over the last two months there has been an unprecedented decline in sales due to uncertainty by consumers.
Forecast after forecast predicts reductions in growth and spending over the next two years. In one survey on house prices released last week, these are predicted to fall marginally over the next two years.
In order to achieve a revitalised high street with retailers having the ability to experiment and take risks with their product/price offer they need support from government and local authorities.
In order to compete with online category killers our high streets need government and local authority backing in the shape of a root and branch look at parking, rates and planning.
CHAMBER BUSINESS BREAKFAST 8TH OCTOBER ROYAL BEACON HOTEL, EXMOUTH 7.00 – 9.00AM
Why not come along to another excellent Chamber Breakfast where the speaker will be Dave Whelan of EDDC talking about the latest Brexit Advice/Information for business. Not to be missed. A snip at £10 with a ‘full English’ thrown in!
Ian MacQueen
Chairman
Exmouth Chamber of Commerce
Hi, I am Dave, I run thebestof Exeter along with my colleagues. If you want to promote your business or event, get in touch with us on 01392 349 130.
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