Following on from recent announcements regarding the closure of stores by high street chains, Boots has now announced a review of its 2,485 stores across the UK. Whilst business rates will undoubtedly play a factor into the viability of its stores, it appears that the main issue relates to a lack of investment which has discouraged shoppers.
Whatever the reason, it is only going to pile on the pressure for landlords in a market which is currently experiencing 10% vacancy rates in the high street. The question perhaps should not be which retailer/restaurant chain is likely to fail next, but which landlords are facing insolvency.
We are being realistic about the future and that we will need to be agile to adapt to the changing landscape