High street retailers disappear

Sell My Commercial Property > Commercial Property > High street retailers disappear

The pandemic has led to the collapse and permanent disappearance of many household high street retail names.  In addition to this, others have gone into administration and been forced to close a large number of their shops, reduce staff numbers and generally scale back to cut costs.  Casualties have included Bonmarche,  Top Shop, Dorothy Perkins, Burton, Miss Selfridge, Peacocks, Edinburgh Woolen Mill, JD Sports, M&Co, Laura Ashley, Bright House, Oliver Sweeney, DW Sports, Bensons for Beds, Harveys, TM Lewin, Bertram Books, Go Outdoors, Lee Longlands, Monsoon, Oak Furniture, Victoria’s Secret, Aldo, Oasis, Antler, Cath Kidston, TJ Hughes, Debenhams, Hawkins Bazaar, Beals and many more.  What impact has this had on those who own high street retail shops?  We at sell my commercial property have been inundated by people who own high street retail shops who have been desperate to sell.  As their tenants have gone bust, they no longer get any rent and can no longer pay their banks the interest on their loans.  This has had a devastating impact on them since in many cases this is their only source of income.  Further, the vale of their properties have fallen in some case by as much as 50% and their shops which were once occupied and vibrant now sit empty.  As demand for many of these shops is non existent, landlords are unable to find replacement tenants.  Many will lose their properties as banks have no choice other than to repossess.  We at Sell My Commercial Property can help you and buy your high street retail shops, and other commercial properties you may own, which can protect your capital and let you sell before it is too late.