|Link to The Guardian|
Europe's largest shopping centre is to open next week in the shadow of the London Olympic park in east London. Simon Fox, the chief executive of HMV, said that the company was closing its existing Stratford shop to move into the new centre:
"We are closing our Stratford high street store. That is the consequence of building shopping centres," adding that any money spent at the new centre "is not going to be incremental retail spend for the UK. It will come from elsewhere."
"He said this was exactly what had happened when Westfield opened its centre in west London, damaging the retailers in the surrounding area of Shepherds Bush, Hammersmith and Ealing."