New laws seize chips and slips

The boss of toy retailer The Entertainer has condemned Britain’s soaring business rates, saying the UK government must take some responsibility for casualties on the high street.

Founder Gary Grant said that last year’s rate hike had been a “real killer” for retailers by heaping financial pressure on firms already suffering from squeezed margins.

His criticism comes amid a spate of restructuring and refinancing deals involving British retailers that have sparked store closures and more than a thousand job losses north of the Border.

Figures released today have revealed that shopper footfall fell by 6 per cent last month – the steepest year-on-year drop since the end of 2010.

The sharp decline for the five weeks to 31 March reported by the Brc-springboard Footfall and Vacancies Monitor compared with an average 1.4 per cent drop over the past year.

There was no growth in footfall for any UK region.

Growth has plummeted in all shopping destinations. The high street has suffered a decline of 8.6 per cent, shopping centres are down 4.8 per cent and retail parks have dipped 1.8 per cent.

More than 21,000 UK jobs have been axed in the first three months of this year.

Carillion’s collapse resulted