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Identifies some of the industry‐wide changes such as the decentralization of retailing and the impact and implications for town centres of retailing and its wider function. Examines the recent upsurge of interest in town centre management in the context of current government planning policy guidelines and ministerial statements. Identifies the key components of successful town centres including private/public sector partnerships and funding. Demonstrates, through an examination of initiatives taken by two particular authorities, the need for a flexible interpretation of the concepts of town centre management.