God. I never thought I'd get emotional about a bloody stationery shop closing down, but here we are. WHSmith - that place where I bought my first diary back in 1997 and where I still occasionally grab overpriced pens when I'm desperate - is literally disappearing before our eyes.
This weekend, two more WHSmith stores will shut their doors forever. Halesowen (West Midlands) and Diss (Norfolk) will be gone by Saturday night. Just... gone. The latest casualties in what feels like a retail bloodbath that's been going on since COVID knocked teh stuffing out of our high streets.
75% Off Everything? The Vultures Are Circling
I drove past the Diss branch yesterday (my sister lives nearby) and the windows are plastered with those depressing "EVERYTHING MUST GO" signs. Up to 75% off, apparently. My sister texted me: "It's like watching someone sell their organs. Weird energy in there."
These aren't the first to go, either. Last weekend, Halstead in Essex and Woolwich in London closed up shop. And there's more coming.
In fact, WHSmith is shutting up to 20 stores in the coming weeks after selling nearly 500 high street locations to Hobbycraft owner Modella Capital. $76 million for the lot - sounds like a lot until you realize this is a 233-year-old British institution we're talking about.
Wait... TGJones? Who The Hell Is That?
The most bizarre part? The WHSmith name - which has been on British high streets since 1792 - will completely vanish. These stores will eventually be rebranded as "TGJones."
I feel stupid now, but I had to Google this. TGJones isn't even a real heritage brand. It's just something Modella Capital made up! Like erasing your grandparent's name from their headstone and replacing it with something that sounds vaguely old-timey.
WHSmith will still exist in airports and train stations, where apparently they make their real money charging £4 for a bottle of water to desperate travelers.
The Growing List of the Fallen
Here's the full death schedule (sorry, "closure timeline") for the next few months:
• Halstead, Essex - Already gone (April 12)
• Woolwich, London - Already gone (April 12)
• Halesowen, West Midlands - April 19
• Diss, Norfolk - April 19
• Newport, Wales - April 26
• Haverhill, Suffolk - April 26
• Oldham, Greater Manchester - May 3
• Stockton, County Durham - May 17
• West Mall, Frenchgate Centre Doncaster - May 31
• Bedford, Bedfordshire - July 5
And that's just the confirmed ones. Ten others had already closed before this announcement.
Remember When High Streets Had... You Know... Shops?
I was chatting with my dad about this last night. He remembers when our town center had three bookshops, two record stores, adn a proper department store. Now it's just vape shops, charity shops, and empty windows with "To Let" signs that have been there so long the sun has bleached them.
It's not just WHSmith feeling the pain.
The Works just shut its Margate store (sixth closure this year). Joules is closing in Salisbury. Homebase got sold out of administration. Boots is shutting ten more stores as part of a plan to close 300 locations. JD Sports is killing 50 stores next year. Even charity shop Scope is closing 50 locations.
My local high street looks like it's got some kind of retail disease. Stores dropping like flies.
The Ghosts of Retailers Past
Remember Wilko? Paperchase? Gone completely. My mum still talks about Woolworths like it was a family member who died. "You could get anything in Woolies," she'll say, staring wistfully into the middle distance.
Back in 2018, I bet a colleague £10 that WHSmith would outlast Waterstones. His response: "You're on, they're already dead, they just don't know it yet." Looks like I owe him a tenner.
Listen. I know retail is changing. I buy stuff online too. But there's something profoundly depressing about watching these shops vanish one by one.
WHSmith survived two world wars, the Great Depression, and countless recessions. But it couldn't survive Amazon and the aftermath of a pandemic.
I might drive to Diss this weekend... just to say goodbye.
Frequently Asked Questions
How can I start saving for retirement?
To start saving for retirement, begin by establishing clear retirement goals and determining how much you need to save. Contribute to employer-sponsored retirement plans, such as a 401(k), and consider opening an Individual Retirement Account (IRA). Regular contributions and taking advantage of compounding interest can significantly boost your retirement savings over time.
How can I budget my money effectively?
To budget effectively, start by tracking your income and expenses to understand your spending habits. Set realistic financial goals, categorize your expenses, and allocate funds accordingly. Regularly review and adjust your budget to ensure it reflects your current financial situation and objectives.
What are the risks associated with investing in the stock market?
Investing in the stock market involves several risks, including market volatility, economic downturns, and company-specific factors that can lead to losses. Investors may also face liquidity risk, where they cannot sell an investment quickly without incurring a loss. Diversification and thorough research can help mitigate these risks.
What are the benefits of having an emergency fund?
An emergency fund provides financial security by offering a safety net for unexpected expenses, such as medical emergencies or job loss. It helps prevent debt accumulation, reduces stress, and allows for better financial planning, ensuring that individuals can navigate unforeseen circumstances without significant hardship.
What is the definition of money?
Money is a medium of exchange that facilitates transactions for goods and services. It serves as a unit of account, a store of value, and a standard of deferred payment, allowing individuals to compare the value of diverse products and services.
What is a budget deficit?
A budget deficit occurs when a government's expenditures exceed its revenues over a specific period, usually a fiscal year. This can lead to increased borrowing and national debt if not addressed through spending cuts or revenue increases.
How can I improve my credit score?
To improve your credit score, make timely payments on all debts, reduce credit card balances, avoid opening unnecessary credit accounts, and regularly check your credit report for errors, disputing any inaccuracies. Maintaining a mix of credit types and keeping old accounts open can also be beneficial.
Statistics
- Research by the National Bureau of Economic Research found that individuals who receive financial education are 25% more likely to save than those who do not.
- A report by Bankrate indicated that only 29% of Americans have a written financial plan.
- According to a Gallup poll, 56% of Americans report that their financial situation is better than it was a year ago.
- As of 2021, the average student loan debt for recent graduates was approximately $30,000, according to the Federal Reserve.
- A study by the National Endowment for Financial Education found that 60% of Americans do not have a budget.
- In 2020, the average retirement savings for Americans aged 60 to 69 was approximately $195,000, according to Fidelity.
- 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.
- The average return on investment for the S&P 500 over the past 90 years is about 10% per annum.
External Links
How To
How To Build an Emergency Fund Effectively
Building an emergency fund is essential for financial security. Start by determining how much you need; a common recommendation is to save three to six months' worth of living expenses. Open a separate savings account to keep your emergency funds easily accessible but separate from your regular spending. Automate your savings by setting up a monthly transfer from your checking to your emergency fund. Initially, focus on small, manageable contributions, gradually increasing them as your budget allows. Avoid using this fund for non-emergencies, and replenish it after any withdrawals to maintain your financial safety net.
PoliticsRoyaltySoap OperaGamingMoneyPrivacy PolicyTerms And Conditions
