Of course new stock is suddenly unviable as soon as there are no franchises around London being let...
Time and time again the midlands gets left behind because it has neither the political power of the south east or whining power of the north and scotland.
The £ has dropped in value since the Brexit vote which has increased all import costs, including most raw materials; plus the forward look for interest rates has worsened. I think you'll find that London (and Scotland) voted solidly to remain while the Midlands voted overwhelmingly to leave. You might therefore think that this damage is self-inflicted, but I couldn't possibly comment.