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Gloucestershire Business News

Covid cost for Gloucester is 16-weeks in lost sales

Covid cost Gloucester sixteen weeks' worth of high street sales, according to new research.

But the situation was much worse in other places in the south west, with Bristol for instance losing the equivalent of 38 weeks.

The findings are contained in a report by Centre for Cities, a research and policy institute, dedicated to improving the economic success of UK cities.

Gloucester's performance placed it at 53 out of 62 nationally.

But when it comes to performance after June 2021 and the end of lockdown, Gloucester has the highest level of empty city centre units in the region, with 21.9% of units vacant, ranking it number 16 in the country.

Nationally, Covid-19 has cost businesses in city and large town centres more than a third (35%) of their potential takings since March 2020, with central London, Birmingham, Edinburgh and Cardiff worst affected.

The report says that high streets in economically weaker places have been less impacted by Covid-19.

It goes on to suggest that the Government's Covid-19 support successfully stalled the decline of many struggling high streets but was less effective in economically stronger places due to higher rents and a lack of custom from office workers.

But it warns that while government support has sheltered weaker places, it may have simply stored up pain for the future. The report says many less prosperous places in the South West face a wave of new business closures this year.

Andrew Carter, chief executive of Centre for Cities, said: "While the pandemic has been a tough time for all high streets it has levelled down more prosperous cities and towns in the South West. Despite this, the strength of their wider local economies means they are well placed to recover quickly from the past two years."

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