Almost one in five shops in Wales are now empty, according to the Welsh Retail Consortium. The vacancy rate increased from 15.9% to 18% in the third quarter of this year, the largest jump anywhere in the UK. However, more independent shops are opening up in town centres, business leaders have said.
The Welsh Government said it provided £90m at the start of the year to support town centres and made a further £9m available to help towns recover from the coronavirus pandemic. The north-east of England, with 18.6%, was the only region in the UK to have a higher vacancy rate than Wales. Shopping centres and high streets have the most empty units in Wales - 20.8% and 18.6% respectively.
Cardiff-based Peacocks became the latest chain to collapse into administration on Thursday, following its owner Edinburgh Woollen Mill Group putting its eponymous shops into the same process two weeks earlier. Furniture and fashion chain Laura Ashley also fell into administration in March, while Debenhams warned in April it would close four of its Welsh stores.
Some towns, such as Aberdare in Rhondda Cynon Taf, are home to multiple stores from EWM and face losing several shops at the same time. Dawn Penny, manager of Our Aberdare, said she was optimistic the town could thrive despite the threat of three shops closing. 'Everyone notices it when shops close, but through change you can grab opportunity,' she said.
The positive feeling among independent business owners in Aberdare is replicated in other parts of Wales. Pam Poynton from Bangor's business improvement district said the city has seen Topshop, H&M and the Body Shop close recently, but their place has been taken by independent shops. 'The smaller stores seem to be outdoing the bigger stores at the moment,' she said.
In Llandudno, business mentor Peter Denton said the town had 'weathered the stormy retail waters' better than most, with a move towards coffee and tea shops. Sara Jones, head of the Welsh Retail Consortium, said a mix of chains and independent shops was crucial for the high street.
