Dying towns could lead to repossessions

Fri, 09 Sep 2011

Brits living in some towns could be at greater risk of home repossession than others after the Local Data Company (LDC) claimed that certain areas of the UK have entered a "spiral" of decline.

According to the firm, many British towns are seeing their high streets and town centres struggle due to the fact they had too many shops of the wrong kind.

Mary Portas recently claimed in a Newsnight interview that certain towns now have "dead" high streets.

Responding to this, LDC business development director Matthew Hopkinson argued that this might be a "dramatic" diagnosis.

However, he added: "I think she's absolutely right in identifying that some places have got so bad that it's a spiral that is a disaster in terms of trying to attract investment, trying to attract new retailers and everything else.

"The bottom line of all of this at the end of the day, which people are starting to acknowledge, is that the UK has too many shops."

With local firms going out of business, some homeowners might be at risk of losing their jobs and, as a result, their homes .

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