- 4 updates
Chris Parry, a business expert at Cardiff Metropolitan University says around 14% of shops in Wales are empty at the moment - and he thinks that could rise to 16 or 17%. He warns: 'you come to a point where a sick patient can't recover - and I think our high streets are approaching that point.'
South Wales Valleys jeweller Derek Davies is among those who has felt the effects of the retail sector's struggles. He has closed his jewellery shop in Tonypandy.
He told our reporter Rob Osborne that even if he was offered a shop in the town with no costs to pay, he wouldn't take it. He said the trading environment is so bad 'it's turning into a ghost town.'
Rhondda Cynon Taf Council says it 'remains committed to working with traders in all of our town centres in an effort to support various initiatives that have a positive effect on the local economy. Initiatives have included various events. This is particularly the case with Tonypandy itself.'
- Blockbuster, the film rental firm, went into administration last week - 160 stores are closing around the UK
- HMV, the music retailer, went into administration last week - a Canadian firm has since bought its debt, but 4,000 UK jobs remain at risk
- Jessops, the camera chain, went into administration two weeks ago - all of its stores will close, with 1,377 jobs going around the UK
- Comet, the electronics retailer, went into administration in November - all of its stores closed last month, with about 6,000 jobs lost around the UK
A business expert is warning around 14% of retailers in Wales face going bust.
Chris Parry, from Cardiff Metropolitan University, says 2013 will be the toughest year of the recession to date.
It follows recent job losses at big chains HMV, Jessops and Blockbuster.