It follows figures released last week showing retail spending slumped at its fastest pace in 23 years in April

High street spending fell at its fastest annual rate in six years and footfall tumbled in April, according to two new reports.

Visa said spending in bricks and mortar stores fell 5.4 per cent in the month compared to April last year, after a 2.9 per cent fall in March, as the downturn in the retail sector accelerated. Online spending was down 0.1 per cent.

Separate research from retail data company Springboard found that shoppers made 3.3 per cent fewer visits to high streets in April, a rapid decline from a 1.6 per cent rise in the same month last…