Bira CEO Andrew Goodacre comments on recent BBC retail report

A recent report on the state of the UK retail industry published by the BBC made for grim reading for all independent retailers across the country.  Taking figures from an independent research body, the Centre for Retail Research (CRR), more than 17,000 sites closed in 2022; nearly 50% more than the previous year.

Speaking to news outlet LBC, Bira CEO Andrew Goodacre commented on the current situation for independent retailers:

‘The number of shops closing is frightening and has accelerated throughout the year. It is due to a toxic combination of reduced consumer spending and rising costs. I also feel that after 3 years of dealing with Covid (lockdowns, trading restrictions) and now the cost-of-living crisis, indie retailers are worn out and tired.

We can look forward to lower business rates in England and Wales (but not in Scotland where rates are being increased) as from April next year, but that coincides with the end of the energy support scheme. This report shows the urgent need to retain the energy support or 2023 will see many more shops closing.’

You can read the full BBC article here