Shopkeepers in the East Midlands are reporting a drop in sales as people stay at home to watch the Olympics.
It comes despite many predictions that the Games would create a "feelgood" spending spree.
Some traders say the streets have been virtually empty when the top British athletes have been in action.
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Another warm day with patchy cloud and sunny spells.
The court heard Peter George Bell diverted funds from the company client account to finance a lavish lifestyle.
The shoes date back to 1690 and are thought to be worth hundreds of pounds.