The 19 empty premises have either closed in the last six months or have remained empty for a longer period.
The list includes Motor World, Hitchens, Laser Graphics, Stationery Box, Frank Lloyd, PR Sports, Cafe Barista and many more shops, building societies, estate agents and pubs.
The news became even worse over the weekend when it was confirmed that Roy Evans Garage would close at the end of the month with the loss of 26 jobs.
Mr Eric Evans said he was bitterly disappointed to close after 60 years but there was no viable alternative.
He said that Peugeot's decision to pull out of the dealership from 2010 made it difficult to sell the business in the current climate.
He thanked his staff and customers for their loyalty over the years and said he was closing the business as it had traded, ethically.
"We want to do it the way we have traded all our lives and make sure that other people do not suffer," he added.
Town mayor, Councillor John Gareth Jones, thinks little can be done to tackle the international problem, but more could be done to improve the impression created by the local empty shops.
He said: "At least the empty shops could be tidied up a bit. Hitchens looks a mess, maybe we should get hold of the owners and get them to keep them tidy It might encourage more businesses to the town," he said.
Cllr Jones thinks the proliferation of online shopping is having a detrimental effect on the high street.
Yossi Gliksman, Chairman of Oswestry's Chamber of Commerce, says it is time for some positivity and although Oswestry may be seen to be 'dying' it never has died, and he says, never will.
'No worse off'"The problem that Oswestry suffers is that we had a lot of small national chains like Motor World and Hitchens. When they make a national decision on which shops to close, traditionally it's Oswestry."
In reality, Yossi says, consumers are no worse off now than last year, and urges them to look to Oswestry's independent retailers for their shopping, and only go elsewhere if what they want is genuinely unavailable.
Business Link West Midlands has launched a 'Credit Crunch' hotline offering practical guidance on business concerns, including managing debt and cash flow, business planning, reducing energy costs and helping firms look at sources of finance.
The hotline, available from 9am to 5pm, Monday to Friday, is staffed by an experienced team on 0845 0020900.
A spokesperson for internet pressure group,
Oswestry21, said: "Shops are closing now. Oswestry needs a clear policy statement from the Town Council as to how they aim to ensure the economic survival of the town centre.
"You simply cannot have thriving town centre local businesses and suppliers and a thriving retail park, even in better economic times.
"No town has succeeded yet, and nor will Oswestry. Town centres are about far more than a collection of places to 'buy stuff'.
"They are about interaction, atmosphere, community and locality; a sense of belonging somewhere and contributing to something bigger than yourself.
"Where is the Town Council in this?," they ask.
The full article contains 556 words and appears in Border Counties Advertizer newspaper.