Report: Bleak outlook for High Street in 2013

More shops could close next year, experts have warned Credit: Lewis Stickley/PA Wire

Experts are forecasting a bleak outlook for High Street shops in 2013 following the collapse of Comet, reports the Telegraph.

Last week, HMV warned there is “material uncertainty” about its own future.

Meanwhile, shoe chain Stead & Simpson has disclosed that it is to close 90 shops, and stationery retailer Staples has closed 23 shops.

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Cable calls for Comet inquiry

The Business Department confirmed that Vince Cable has called an investigation into Comet in a bid to find out why the firm ended up going out of business and the circumstances around the purchase of the company by a private equity firm last year.