Buzz People

More than 200 UK shopping centres 'in crisis'

More than 200 UK shopping centres are in danger of falling into administration, experts are warning.
The demise of "major anchor stores" like BHS and Toys R Us and the rise of online shopping has caused a "downward spiral", analyst Nelson Blackley said.
Many of the at-risk centres are owned by US private equity firms under deals that will need refinancing.
"If centres close, particularly in small towns, it will be catastrophic," Mr Blackley said.
"We have too many of them, doing exactly the same - the same range of stores and products - and basically that's not attractive," he added.
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