Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/122387
reSCUing the high Street developers are bringing europe's downtowns back to life with innovative retail and entertainMent By David Brinn H igh Street Shopping iS a defining european institution, but it has taken a battering from a lingering recession and a burgeoning e-commerce economy, particularly in Britain. three sizable British chains — camera seller Jessops, athletics retailer JJB Sports and wine vendor oddbins — all fell into insolvency last year, and music store hMV nearly went the way of Blockbuster. there were 194 bankruptcies in the retail sector last year, a 6 percent jump from 2011 and a 16 percent leap from 2010, according to Deloitte. Based on a survey of 500 U.K. town centers, nearly 1,800 shops closed last year, a 10 percent increase from the year before. But any reports of high Street's eminent demise may be exaggerated, observers photo : paUl thoM pSon say. resilience and adaptability may ultimately save Britain's downtown shopping districts from a slow death, while in germany, thanks to various factors, the high Street has remained a thriving retail option, providing a model for other european cities in the throes of high Street erosion. "there's a degree of continued polarization in the european retail marketplace, M ay 2 013 / SCT 173