Watch Wales This Week, High Street Blues, online
As nearly one in five Welsh shops lies empty, what can be done to bring life back to hard-hit high streets? Experts are calling for a raft of changes to help support the high street through difficult times.
As nearly one in five Welsh shops lies empty, what can be done to bring life back to hard-hit high streets?
Read the full storyChris 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.'
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.
Iceland retail boss Malcolm Walker today led a £1.45 billion deal to buy back the frozen food chain he founded more than 40 years ago.
The Flintshire-based business was bought back from its creditors, the collapsed Icelandic bank Landsbanki.
Mr Walker and his senior management team already held 23% of the business but will now have full operational and board control
– Malcolm WalkerI am utterly delighted that we have been able to conclude a deal that ensures a secure, independent future for this great British company.
