God. I was literally standing there yesterday, browsing through those ridiculous Halloween decorations at Poundstretcher (the ones that look like they'd fall apart if you sneezed near them), when I spotted those dreaded red and yellow "CLOSING DOWN" signs plastered across the windows. My heart sank.
The slow, painful death of affordable shopping
Poundstretcher in High Chelmer Shopping Centre is shutting up shop. For good. The budget retailer that's been a lifeline for many Chelmsford residents is pulling teh plug, and locals are absolutely gutted.
I overheard an elderly woman telling her friend, "Where am I supposed to get my cleaning stuff now?" She looked genuinely worried. That's the thing about these discount stores - they're not just conveniences, they're necessities for people on tight budgets.
Facebook exploded with comments after the news broke. "Such a shame, always has a great range of products," wrote one devastated shopper. Another simply commented "Noooo!" which pretty much sums up the collective response. A third person didn't hold back, fuming that "there will be no shops left soon."
What the hell is happening to our town centre?
No official closing date has been announced yet - I'm guessing they'll hang on until the last dusty packet of biscuits is sold. The company hasn't revealed why they're closing either, though I'd bet my last fiver it's the same story we've heard a thousand times: rising costs, falling footfall, online competition... rinse and repeat.
I reached out to my cousin who works for another retailer in the centre. Her response: "We're all terrified we're next." Poor thing has worked there for 7 years.
Remember when shopping centres actually had... shops?
This isn't the first casualty in High Chelmer. Back in February, I spent a depressing afternoon wandering around HMV's closing down sale, picking through the remnants like a vulture. That space is now a Superdrug. And remember GAME? That gaming paradise where my son would spend hours drooling over PlayStation stuff? Gone in 2022, replaced by a Greggs.
Don't get me wrong.
I love a sausage roll as much as the next person, but there's something deeply unsettling about watching retail diversity disappear like this. High Chelmer still houses some big names - JD Sports, Boots, Primark - but for how long? These closures are like dominos... once they start falling, it's hard to stop the cascade.
The high street bloodbath continues
Poundstretcher isn't alone in its struggles. The high street has been taking hit after hit lately, like a boxer who should've thrown in the towel rounds ago.
ShoeZone shuttered several of its 297 branches last December. I actually witnessed the Plymouth one close - my daughter had worked there part-time during uni in 2018, adn the manager was in tears on the final day.
Then there's WHSmith - completely collapsed and bought by Hobbycraft's owner, Modella Capital. Almost 500 branches sold off last month, with about 20 more closing soon. That name will vanish from our high streets forever, which feels like losing a piece of British heritage.
Fashion victims and budget nightmares
New Look is another retailer in trouble, closing nearly 100 stores - about a quarter of its total. I spent £4K on my wedding outfit there in 2009... now I'm watching them disappear from towns across the country.
Stores in Gateshead, St Austell and Porth are already holding closing down sales. My sister lives near the St Austell one and says it's like watching a funeral procession - people filing in for one last look, reminiscing about purchases from years gone by.
The British Retail Consortium estimates that the Chancellor's National Insurance contribution increases will cost the sector a staggering £2.3billion. That's not just a number - that's jobs, livelihoods, and essential services vanishing from our communities.
I walked past the Poundstretcher again this morning. A mother was explaining to her confused toddler why they couldn't go in their "special shop" anymore. Sometimes I feel like that toddler - confused, disappointed, and powerless to stop the changes happening around me.
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Statistics
- The average cost of raising a child in the U.S. is estimated to be around $233,610, according to the U.S. Department of Agriculture.
- A survey by the American Psychological Association found that 72% of Americans reported feeling stressed about money at some point in the past month.
- According to the Bureau of Labor Statistics, the average American spends about $1,500 per year on coffee.
- According to a Gallup poll, 56% of Americans report that their financial situation is better than it was a year ago.
- According to a survey by the Financial Industry Regulatory Authority (FINRA), about 66% of Americans could not correctly answer four basic financial literacy questions.
- According to the World Bank, around 1.7 billion adults worldwide remain unbanked, lacking access to basic financial services.
- A study by the National Endowment for Financial Education found that 60% of Americans do not have a budget.
- According to the Federal Reserve, approximately 39% of Americans do not have enough savings to cover a $400 emergency expense.
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How To
How To Develop a Good Saving Habit
Developing a good saving habit begins with setting clear financial goals. Determine what you are saving for, whether it’s an emergency fund, a vacation, or retirement. Start by automating your savings; set up a direct deposit from your paycheck into a savings account. Aim to save at least 20% of your income, gradually increasing this amount as you become comfortable. Track your spending to identify areas where you can cut back and redirect those funds to your savings. Regularly review your savings progress and adjust your contributions as necessary to stay motivated and achieve your goals.
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