UK shop closures at record 11.3%, highest in 15 months

More than one in 10 shops in British town centers are closed, as sales continued dropping and costs surged according to a survey from the British Retail Consortium (BRC) and Springboard market research.

The national town centre vacancy rate in the UK hit a record 11.3% in October 2012 (high streets and shopping centers), according to the report. Northern Ireland was the worst affected region with the rate reaching 20%. High vacancy rates were also recorded in Wales (15.1%) and the North & Yorkshire (14.6%).

"This new high in empty shop numbers really sets alarm bells ringing,” Stephen Robertson, the British Retail Consortium Director General said.

The data comes as several retailers such as electricals retailer Comet, sportswear group JJB Sports, video games retailer Game and greetings card firm Clinton Cards closed hundreds of shops after becoming insolvent.