Majestic chairman says high street's in 'death spiral'

Published: 02 February, 2012

The high street is in a "death spiral", says Majestic's new chairman Phil Wrigley, who recommends using empty shops for residential accommodation.

Wrigley, who joined the wine retailer's board in April 2010, also criticised Mary Portas's report on the high street. "Unlike Mary Portas, I don't think we can continue to try to muddle through supporting the traditional high street model," he said. Wrigley, who has 30 years of experience in the retail sector, described her report as "right diagnosis, wrong prescription".

Wrigley, speaking at Oxford University yesterday, was reported in the Independent newspaper as saying high streets should be reinvented. "Retailing will never be the same again, but there is much to be gained from facing up to this fundamental, and irreversible, truth. In doing so, we might just create the space in which we can re-cast and revitalise our town centre communities.

"There comes a point at which vacancy rates are so high that no new retailers will come in to a location because they don't want to be sited among empty shops. It is, in effect, a death spiral."

Wrigley previously held roles at fashion chain New Look, Habitat, Debenhams, Arcadia and Bhs.

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