inSwindon BID Company have announced they will ‘conclude its services’ in Swindon Town Centre at the end of March.
This move now means any events, services and management of the town centre will now pass back to Swindon Borough Council.
The announcement blames the increased development of commercial and service properties in the town centre to residential, meaning a drop in the BID levy revenue the not-for-profit company would receive to carry out its services as the reason for deciding to cease trading.
In response to the announcement by inSwindon, Councillor David Renard, Leader of Swindon Borough Council, said: “I’d like to thank Anita and all the team at inSwindon BID for their great work in promoting the town centre over the years.
“Swindon’s town centre, like so many across the country, is having to adapt to ongoing changes in the retail industry, our shopping habits, the use of office space and consumer spending power.
“As the town centre evolves to a mix of different uses, this has inevitably had an impact on inSwindon which relies so heavily on the funding it receives from retailers. Although I will be sad inSwindon will no longer be in place to support our great businesses, the town centre does have a bright future. A £100m programme of council-led investment is underway which is already beginning to stimulate private investment to boost the local economy.
“Following inSwindon’s announcement and in light of the major changes taking place, we will be engaging with all our partners on a new approach to managing the town centre.”
