Sir Philip Green’s Arcadia retail empire has fallen into administration with 13,000 jobs and hundreds of stores at risk, making the Topshop owner the UK’s biggest corporate failure of the coronavirus crisis so far.
What does this mean for our high streets?
Its simple and the news is terrifying. More vacant high street shops, more unemployment, fewer people visiting the high streets, rents will fall, property values will fall, landlords will be unable to pay interest on their loans, many will be forced to sell and some who are unable to sell due to a lack of buyers will have their properties repossessed.
If you’d like to explore the possibility of selling your high street shop property feel free to contact us to discuss your options.
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