Discount shops take over UK malls

Collapse of Woolworths has helped cut-price chains move from the high street and into shopping centres Pound shops, budget chains and fast-food outlets are moving into shopping centres in increasing numbers, changing the face of Britain’s malls. Poundland, Peacocks and bakery chain Greggs are among those showing the fastest growth in tenancies since 2008, according to a report from retail consultants Trevor Wood Associates. The report, which monitors tenancy changes in 500 shopping centres, shows that a host of discount retailers are spreading from the high streets into shopping malls. They are benefiting from the collapse of Woolworths in 2008 , with Poundland – now the fastest-growing retailer in malls – taking over many of its shop units. A report last year showed pound shops had snapped up the biggest tranche of the Woolworths estate . “Retailers and shopping centre owners are simply providing what the public wants,” said Trevor Wood, senior partner of the firm behind the research. “What we’re seeing reflects what’s happening in the wider market.” While middle-market names still dominate shopping centres, budget fashion retailers Peacocks and H&M are among the top 10 fastest-rising stores. Shoe Zone, the budget footwear chain, and Wilkinsons, the discount household retailer, are among the top 20. Retail industry Woolworths Poundland Greggs Julia Kollewe guardian.co.uk

Posted by on April 18, 2011. Filed under News, Politics, World News. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.