But it also proves an important point. Yes, there are major problems out there, but there are also plenty of retailers pressing ahead with expansion as there is space for them to grow into.
For the right store group the strife in the wider retail market is a great opportunity, not a reason to retreat into a shell. If yesterday’s report by PriceWaterhouse Coopers proves correct and 20 per cent of retail property is left lying empty once things start to recover, the opportunity is growing.
Of course, talk of pressing ahead with expansion plans might seem like a distasteful joke to retailers facing the lowest consumer confidence for years and a miserable spending outlook for next year, but there are those in the right place at the right time.
But looked at another way, recession can be seen as a peversely positive force for more than just retailers that want to grow.
Gordon Brown blaming the global banking crisis for all the country’s problems is a facile cover-up for 10 years of unchecked and irresponsible growth that has left the UK in a worse position than almost any developed country. The result of growth in retail property is that there is too much space and retailers with too many stores because both sides have been allowed to overstretch themselves.
So as the UK faces the slide into recession, take a minute to think what we will be faced with at the other end of the tunnel. While it might be a long and painful road ahead, if the Government handles the situation responsibly the system will be allowed to repair itself naturally.
The excess of space that has come into existence over the past decade of too much expansion will naturally be shed and the weakest retailers that did not set aside enough for a rainy day or did not have a strong enough brand in the first place will fall by the wayside.
If proof were needed that there are strong retailers out there still putting their best foot forward, it came in the form of John Lewis taking its first bold step overseas last week. Retailers such as John Lewis have seen recessions come and go and will probably emerge stronger when this one finally blows over.


















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