But is the demise of the once vibrant town centre fact or fiction?
The latest figures from the Bank of England say the country is now officially coming out of recession.
In Paignton, businesses say trading conditions are still difficult and some fear the town centre is dying.
There is a glint of hope from specialist traders, who say they have managed to survive the credit crunch.
The Paignton town centre plight has not been helped by the closure of the Woolworth and Rossiters stores.
Latest research from the Local Data Company, which conducted a national survey, revealed 9.4 per cent of the town's 446 retail units currently stand empty.
In Torquay, 9.3 per cent of shops are empty, while in Exeter, 12.8 per cent are unused.
And one Paignton resident carried out his own research which, he says, shows 41 out of the town's 446 units are lifeless.
The figure excludes the Crossways shopping centre and empty stores in Victoria Square.
He counted eight empty units in Hyde Road, 13 in Winner Street, another nine in Church Street, three each in Victoria Street and Palace Avenue and another four in Torbay Road.
His prompt for his one-man survey were recent comments in the Herald Express by Tory council leader Kevin Carroll who reportedly claimed the town was doing well.
The man, who doesn't want to be named, said: "I didn't think that was right so I decided to walk round town to count the empty units.
"I don't think 41 empty shops is really supporting the view.
"What used to be the commercial hub of Paignton with butchers, bakers, green grocers and other traditional shops now seems to be dying on its feet."
Lucy Ball, chief executive of the Torbay Town Centres Company, said Paignton needed a 'shot in the arm'.
She added: "There are a lot of empty shops. Unfortunately, it is as it is.
"Hopefully, Rossiters will be back on the block soon and someone will take over the former Poundworld shop.
"Crossways is under new ownership and we all hope something will move there quickly.
"Paignton is the victim of the current economic situation. It needs a shot in the arm quickly."
Cllr Carroll insisted it was not all doom and gloom and Paignton had many things going for it, including a new library being built.
He added: "I can't for the life of me see where you get 41 empty shops from. I believe the people of Paignton support the shops of Paignton.
"If you saw the number of people shopping in Paignton, it's thriving — despite the recession. On Saturday it was heaving."
Torbay MP Adrian Sanders said: "Businesses follow money. You need to encourage higher-paid jobs in the Bay.
"You have to diversify the economy away from the bucket and spade economy.
"Look at Crossways. It has been a disaster for years. If you get high-paid jobs, you'll get better quality shops in Paignton."
So what do the traders think?
The Herald Express carried out its survey.
Ron Brown, 62, from Baker's Delight, said that since he had opened at 8.30am he had served two customers.
"Many shops have disappeared, the butchers, newsagents have gone and we are getting more and more charity shops and there are seven or eight empty shops. It doesn't help people to come into the street if there is nothing for them to come here for, they don't bother to come."
Vince Edwards, 44, from Edwards Emporium, said trading was 'terrible' and that there was no help for the self-employed.
"You look around you and there are shops boarded up. It is just a mess. I saw RIP TQ3 painted on an electricity box and I thought that perfectly summed up Paignton."
Robert Davies, 63, from Automates, said his trade had been 'OK'.
He has traded for 26 years and said the recession had 'very little effect'.
"We deal with the elderly generation and offer a very good service, too. A lot of shops have disappeared that we deal with nationally too."
Jessica Swift, 20, from Pets Parlour pet shop, said trade had been steady enough.
The pet shop has been there for 25 years and Jessica added: "It has been quieter than we expected. January was really busy but now it has gone quiet.
"In Winner Street, it isn't good with all the shops closing and there isn't a lot up here anymore. It is the oldest part of Paignton and it would be nice if you could get back to it being a main street rather than a little back road."
Margaret Radcliffe, from The Craft Centre, said the shame of the situation is that there is certainly the custom for business to thrive.
"We don't need anymore amusement arcades or gift shops, we could do with some nice clothes shops.
"If you sell what people want there is the trade, so I found no problem.
"Holidaymakers enjoy what I sell because they don't have stores that sell this.
"If you think of the right thing to sell, there is the custom. You have to identify and think of something else to sell. when this opened originally it was a newsagent."
Paul Kenyon, 39, from Palace Premier Meats, said trade 'hadn't been too bad'.
He explained he had been there for four years but said footfall compared with when he started out 'isn't what it was'.
"We could definitely do with Rossiters opening and giving us a little pull up the area.
"It isn't all doom and gloom, it is getting harder, but all town centres are suffering."
Sue Carson and sales assistant Tracy Mead, from Tru Shu, have been trading for eight years.
Sue said 'trade wasn't good'.
"It is the footfall. People see Tesco, look up the street and don't come up. They tend to turn around and carry on."
Tracy added it would only take one anchor store to 'change things'.
Darryl Hayes, 44 from GlenDevon Furnishers, said he had been trading since the mid-1980s from the premises that was the former site for Paignton police station.
He said there was no pattern to trade and that it was 'unpredictable'.
"Considering the weather, we had some good sales figures in January. The weather kept people away, but I am pleased with what we did considering how tough January was."
John Chilcott, 60 and his wife Julie, who have run the Cafe du Palais for four years, said trade has been 'OK' but he warned increases in the rateable value of businesses could cause 'problems'.
He said increases were 'appalling' because other shops 'had suffered'.
Adam Hocking, 26, assistant manager at Lloyd Maunder Butchers, said trade was 'slowly decreasing'.
"Compared to a year, or a year-and-a-half ago, the footfall has got lower and lower.
"The parking meters haven't helped. It is ever since the parking meters that trade has got worse and worse. Saturday trade is non-existent now."
Kerry Sheldon, 40 and Susan Foley, 61, from Victoria's Pantry, said trade had been 'all right' adding they had been lucky because they had good local trade for builders and office workers nearby.
Susan added trade was 'a little bit up' on last year.
"But it did hit the town last year when Woolworths went. A bit of the heart of the town went with Woolworths and Rossiters.
"If you could guarantee a good summer we would all be happy."
Shamshad Ali, 47, from Masons Cafe, also owns Yankees takeaway.
He explained he had only taken over the cafe six weeks ago and that 'trade was very slow'.
Sue Wilcox, 50, from Paignton Model Shop, said the shop was about to celebrate its second anniversary.
"Overall, we are pleased with the way things are going, but it is concerning that a lot of shops are closed.
"Fortunately, we cover the whole age range from tots to pensioners. I think you need to be a bit individual to survive at the moment.
"If we had a big store in the town it would go a long way to helping the town. With the right investment Paignton can work."
Peter Silley, from Purdy and Tully Tobacconists, said trade had been 'all right' but said that was because of the type of shop he has.
"If people want loose tobacco they have to come to us. We are a specialist. We have had quite a good January and February."
Pete Savage, 51, from Savages, said trade was not a lot different from last year.
He has been trading from his Paignton store for 16 years and said trade was 'pretty steady'.
Tony Hammides, 60, from Tony's Barber Shop, said trade was 'slow'.
"It is not as good as it was in the past. We find it is a little more quiet. I am lucky, I have regular customers.
"With the parking meters, people have to pay £1 to come and if they are 10 minutes late they get a ticket.
"Paignton is dying due to the meters and because there are too many charity shops."