The Business, Innovation and Skills Committee are to launch an inquiry into Britain’s retail industry. The inquiry comes after the collapse of a number of major high street retailers in the past few months.
The Committee will examine the Government’s support for the industry – in particular its response to the Portas Review.
It has been reported that the £10m government fund, set up last year to help revive the high street has barely been touched – reports suggesting as little as 7% of the money has actually been spent.
Councils have been criticised for sitting on the money rather than using it to deal with the crisis.
The Committee will also explore the “impact of on-line sales and direct sales on high street retailers”.
Its findings could help highlight the issues faced by the retail sector; however whether these issues are actually addressed remains to be seen…
Posted by Claire Gay, who specialises in retail property, dealing with acquisitions, disposals and management of retail, leisure and warehouse properties.
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