Shropshire Star comment: Tough time for county retailers
The High Street is undergoing quantum change. Stores that were once impregnable now face a fight for their survival.
Household names are going to the wall more quickly than you can say Woolworths. And others are shedding jobs or closing stores to stave off collapse.
It has been an incredibly tough start to the year for Britain’s high street names. The list of retailers in trouble continues to grow – with House of Fraser, Marks & Spencer, New Look and Mothercare announcing store closures. Others, such as Maplin, have disappeared from our high streets altogether. We can but guess at what our traditional shopping streets will look like five years from now.
The latest name to join the ranks of those struggling is Debenhams, which has issued a profits warning. It has a turnaround plan in place – but whether that plan will take effect quickly enough to stave off something altogether more serious remains to be seen.
There are many theories as to why 2018 has proved to be so difficult, but the fact remains that we are witnessing a seismic change in the make-up of our high streets.
The value of the pound has fallen, there is uncertainty over Brexit, imports cost more and shopping patterns have changed. A fall in wages, a slump in consumer confidence and the competition brought about by online shopping have all added to the difficulties facing retail giants.
High Street expert Mary Portas has urged the Government to do more by cutting business rates, though in an ongoing age of austerity such a move is unlikely.
As we move through a period of massive transition, businesses that are too big to be nimble are suffering.
Shropshire is not immune from changes in retail patterns. The county’s independent traders give it some buffer against the headwinds that blow. And it is to be hoped that the mix of household names and top quality independents will help to keep local High Streets vibrant and viable for generations to come.
Shropshire has unique charms and a mix of history and heritage, independent entrepreneurialism and unique shopping experiences should help it to weather the storm.
