MAPIC 2008: Factory outlet chief predicts widespread closures

  As much as 25% of the UK’s factory outlets will close in 2009, a leading retailer predicted today.   Speaking at the MAPIC 2008 conference in Cannes, Gary Bond, chief executive of McArthurGlen, said many smaller, non-regional outlets would go out of business.   “I can see people who aren’t experts in outlets, and who have been opening in the last five years closing – people who thought it would be easy to develop outlets.”   Bond added that McArthurGlen would take over failed schemes “at the right price”. He also predicted market consolidation throughout the UK and Europe.   paul.norman@egi.co.uk