As the Christmas cards come down, so will the shutters on hundreds of shops, Woolworths being only the highest-profile chain making an exit. Notwithstanding the relief about yesterday's trading statements, there's hardly been a Twelfth Night as short on festive cheer since the Puritans.

Where will that leave the high streets, retail parks and shopping centres of Britain? Not as full as they were, evidently. King Sturge, the property consultancy, forecasts there will be 14m sq ft more of retail space available at the end of this year. Experian suggests one in 10 retail outlets will stand vacant by next month, and 15 per cent by the end of the year.