Alex McCulloch, Director at CACI: “It is clear we are in a period of enormous upheaval, which if left unchecked will continue to amplify and accelerate change. There are three areas the government can help reinvigorate the high street…”
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Take a moment to look at the havoc wrought in the last few weeks: Debenhams, Carluccio’s, Laura Ashley, Cath Kidston and more have all entered administration or are about to. £7.7bn has been lost in market capitalisation from the top four UK retail REITS; 66% of March rent was unpaid; 500,000+ non-essential stores banned from trading; and footfall down 90%+. The tide has gone out and left everyone exposed. The question needs to be asked – can retail survive the coming months?
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