Croydon Marketing and Development (CMD) has hit back at a recent survey that suggests Croydon is finding the current economy hard to contend with.

Cheltenham-based company Blue Sheep, which information-providers to businesses, conducted the study in 400 locations to find where business is thriving and where others may be finding the economic climate difficult.

According to the study, Croydon is in the bottom 10 of the list of thriving business locations.

But CMD's Patricia Cahalane says the results are unfounded.

She said: "I don't know how they came to these conclusions but Croydon is certainly not struggling in the current business climate. New businesses, particularly retail-based business, are always looking to locate here."

She points to the opening of Centrale and House of Fraser as an indication of how Croydon is currently thriving in the current economy.

"The very fact that large retail outlets such as Centrale and House of Fraser have decided to locate in Croydon shows how Croydon business is by no means struggling," she said.

"With so many large retail outlets queuing to locate stores in Croydon, we are starting to compete with the likes of Bluewater and Lakeside."

Mrs Cahalane also pointed out that Croydon has some of the cheapest office space rates in London. This has not kept phone giant Vodafone in its offices on Purley Way, or Phillips at its headquarters in London Road, West Croydon. Both companies are preparing to relocate outside the borough.