Clear government policy is needed to support efforts to revive flagging town centres
The high street is in trouble. Recently, Arcadia clawed its way back from the brink as Philip Green’s rescue plan was narrowly approved by his creditors via a company voluntary arrangement (CVA). The likelihood of a full recovery, however, is slim, with only 15% of companies entering CVAs surviving. Arcadia’s decline is symptomatic of the upheaval going on in British high streets, and without decided change, plenty more retailers will follow suit.
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