Will more retailers ditch Oxford Street?

Oxford Circus 2020

While the famous shopping destination was already facing headwinds, the coronavirus crisis has been a perfect storm for Oxford Street. The question is whether retailers will hang around to pick up the pieces or abandon it altogether.

Last week, Debenhams revealed it would shut its Oxford Street store. It is just the latest closure to hit the famous shopping street. The iconic Topshop flagship is also up for sale while Gap is shutting one of its two Oxford Street shops.

Meanwhile, the former HMV and Forever 21 flagships still remain empty after being vacated months ago.

For many retailers and landlords, the last 10 months have also led to profound questions about the future of physical retail destinations themselves. 

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