The challenge facing the high street
2,870 retail stores have closed in the UK in the first half of
2019, and the British Retail Consortium has estimated that 900,000
retail jobs could be lost by the end of 2025.
The Channel Islands have not been immune to the pressures faced
by retailers, with a number of high profile names disappearing from
the high street.
Many retailers, particularly in fashion, struggle with
profitability as consumers increasingly move their shopping habits
online. This has led to calls for landlords to reduce rents and
offer more generous terms to tenants.
On the other side, landlords are facing the financial pressures
of vacant space, tenants on the edge of insolvency and banks that
expect to be repaid on their mortgages, regardless of the financial
health of the tenant.
