The shops are closed but we can still order stuff online. What gives?
WiredThose of us living in city centres during the coronavirus crisis are a little ahead of everyone else in the country. “It won’t be the end, but I think there’ll certainly be a number of stores that won’t be opening again,” says retail analyst Richard Hyman. Intu, which operates many of the country’s major shopping centres, received only 29 per cent of the rent it was due for the second quarter of 2020 — compared to 77 per cent this time last year. Retail park developer Hammerson fared little better, with 35 per cent of due rent paid. “It’s a question of trying to freeze things rather than having all these businesses in complete decay during the process.” “I know that these are challenging and uncertain times, in particular for retail businesses and staff across the country,” wrote business secretary Alok Sharma in a letter to the retail industry on April 8.