News - Midlands
Wolves suffers retail meltdown
Wolverhampton has suffered more than any other large retail centre in the recession. One in four shops now stands empty. Research by the retail and leisure sector information provider Local Data Company reveals that 23.9 shops in Wolverhampton are vacant. The research findings follow an insolvency expert’s prediction that the demise of the small shop is set to continue apace. John Kelly, regional managing partner in the Birmingham office of Begbies Traynor, said: “With high city-centre rents and rates, it is difficult to see how small independent retailers can survive.”