- Written by Ollie Yates
- BBC News, Devon
Empty shops are affecting the economy and “social fabric” of market towns such as Torquay and Paignton, a business leader has warned.
Tim Jones, of the South West Business Council, said one in five shops were now empty in the region, while 1,800 premises had closed in 2022 alone.
This is the highest rate seen since the financial collapse of 2007 and 2008, he said.
Torbay Council said it was working to help businesses survive.
But Mr Jones added: “Everyone wants to get online right now.”
“The costs to shopkeepers – business rates, rising minimum wages, insurance, inflation – all of these things have a huge impact on the fortunes of the high street.
“We cannot afford to lose them.
“This is an important part of not only the economy but the social fabric of many of our market towns.”
Meanwhile, the South West Business Council said the region lost £2.6 billion in trade during Covid, with sectors including pharmacies and banks among the worst affected as consumers increasingly choose to shop online.
“We have seen some larger investments that were potentially London-owned or foreign-owned and have now gone to auction and been sold,” said George Helmore, a commercial management specialist.
“A lot of it has been bought by more locals, which is great because locals want to spend money locally and make the properties look better.”
Torbay Council said it would invest £11m in Union Square, supported by £21.9m from the government’s Towns Fund, as part of its plan to “level up” the country which was unveiled in November 2023.
Chris Lewis, deputy leader of Torbay Council, said there were “too many shops at the moment”, leading to some being demolished.
But he said “all the encouragement” was needed to help local businesses survive.