Money
Demand for targeted support high among those approaching retirement
Just under two thirds (64%) of those approaching retirement (aged 50-59) find targeted support strategies “appealing”.
This is according to Aegon’s report, ‘The Second 50: Navigating a Multi-Stage Life’, which also found 71% of those aged under 50 back the idea of targeted support.
Males are slightly more supportive, with 69% finding the idea “somewhat appealing” or “very appealing”, compared to 60% of females.
Targeted support is a key proposal of the Advice Guidance Boundary Review, under which the Financial Conduct Authority (FCA) and HM Treasury aims to bridge the gap between basic information or generic guidance and holistic advice.
Aegon proposed to the Government and regulators five core principles it considers essential for the success of targeted support:
- Focus on core consumer needs including Isas, pensions and protection, and excluding complex or risky areas.
- Expand availability beyond manufacturers to include adviser firms and employee benefit consultants.
- Offer to help customers make the best use of existing products, as well as suggesting possible new purchases designed to deliver good outcomes.
- Offer proactively, rather than only when requested by consumers who very often don’t know what support they need and when.
- Accompany with simple disclosures to explain the service and how it compares with advice and other forms of support.
Aegon pensions director Steven Cameron said: “Targeted support is the standout proposal from the Advice Guidance Boundary Review. Our latest Second 50 report shows that the combination of ongoing challenging economic conditions, increased life expectancy and the need for individuals to manage their own finances has made regulated advice more crucial than ever and must be encouraged to thrive.
“However, millions find themselves caught between the ‘rock’ of comprehensive financial advice that can seem expensive, and the ‘hard place’ of unengaging generic information.
“We hope that the FCA and the Government will continue to prioritise closing the advice gap, with a strong focus on those in their Second 50 approaching and moving into retirement. An industry capable of genuinely supporting millions of savers and investors in enhancing their personal finances will benefit not only those individuals but the entire UK economy.”
To obtain these results, Aegon commissioned H/Advisors Cicero in July 2024 to survey 900 adult workers and 100 retirees in the UK.
Money
The ‘game changer’ £8 cold weather item in unexpected aisle for tackling condensation – you can use it again & again
FIGHTING mould in the colder months could cost as little as £7.99 with an item that some have branded a “game changer”.
Reusable dehumidifier bags can help tackle condensation which can appear on windows around the home in the colder months.
The Simply Reusable Car Dehumidifier can be bought from Halfords for as cheap £7.99 making it a bargain investment.
The compact bag absorbs and releases moisture due to its silica gel interior.
It features a heat sensor which changes from blue to pink to indicate when it needs to be “recharged” back in a microwave.
The gadget has become popular online with drivers praising that it can clear your windscreen.
Yet savvy shoppers online have noticed the dehumidifier bags can be used anywhere – such as on window sills at home.
One user took to TikTok to explain: “I leave mine in the car and when I go to it in the morning there’s less condensation”.
While another user pointed out that they were “amazing in the car, van, house – anywhere!”
People also commented on the post saying the bag was a “need”.
And another person said: “They’re amazing. They make such a difference.”
Dehumidifying your home is essential in the colder months as condensation can quickly develop into signs of mould.
The reusable bags are a low cost method compared to investing big bucks into an electric dehumidifier which plugs into the wall.
For example, the SIP 20 Litre Dehumidifier from Halfords costs £239.99.
The small bags can be placed on window sills and in corners where electrical appliances might not reach.
You also get to avoid the cost of running an electrical appliance – and while dehumidifiers only 4p an hour it always helps to save on these monthly costs.
Especially from this month onwards as 28 million households on standard variable tariffs (SVT) face an increased energy price cap.
According to Ofgem, which sets the limit, bills are set to rise by 10% from this month onwards causing households to spend an annual £149 extra on average.
Therefore those dodging turning the heating on and instead finding methods to heat themselves could still see their homes affected by cold weather.
Mould spores can cause health problems unknowingly by contaminating respiratory air and causing allergic reactions to your skin.
Mould can also be a pain to blast once it’s settled.
CheckATrade values the average mould removal cost this year to be £30 an hour – or as much as £300 a room.
Therefore by making the much smaller £7.99 investment you could avoid having to pay for damage repair costs down the line.
What is mould and how to get rid of it?
Mould is more likely to grow during the winter months.
Olivia Young, Product Development Scientist at Astonish revealed exactly why this is.
“Unfortunately, mould is a common problem many people face during winter. It thrives in conditions that are warm and damp, so your bathrooms are likely to be the most affected place.
“That said, during the colder months most rooms in your home could be vulnerable to mould growing.
“This occurs primarily from condensation that builds up on your windows when you’ve got your radiators on.
“If you think about it, when windows and doors are closed, there’s not much chance for the air to circulate and the moisture to make a swift exit.
“This build up is what can cause dreaded mould to make an appearance, especially in bathrooms, as it creates that warm and wet environment that is a breeding ground for mould.
“If left untreated, not only is it unsightly but it can also pose a serious risk to your health, so it’s really important you treat it.
“The key to tackle mould is to act fast.
“Try to come into as little contact with it as you can. So, grab your gloves, tie up your hair and get to work to remove any signs of mould as soon as you notice them.
“To keep mould at bay, there are some simple solutions you can introduce throughout home.
“The first is keep it ventilated. Yes, even in the cold winter months try to leave your bathroom window open for at least 10/15 minutes post shower or bath. This will get rid of any excess moisture quickly preventing mould gathering.
“If you’re having a repeat problem with mould in one particular area, it might be because the humidity levels are too high. You can get a dehumidifier that will help keep the levels low and reduce the risk of mould returning.
“The golden rule to remember when dealing with mould is the quicker you can treat it, the better. If you leave it, it will only get worse so never ignore it!
“To successfully get rid of mould every time, I recommend opting for the UK’s No 1 Mould & Mildew Remover, that effectively removes mould and mildew stains almost instantly, with no scrubbing necessary.”
You’d typically find the pouch-like gadget down a motoring aisle or in an auto retailer like Halfords.
Other places where you can purchase affordable reusable dehumidifier bags include The Range and Amazon.
The Range sells theirs at a bit more expensive a cost at £8.99.
Whereas some products on Amazon, such as the FPD 2 Car Reusable Humidifier bags, can cost as little as £5.98.
As usual we recommend shopping around to get the best prices.
It’s always a great trick to use the “sort by” tool while browsing and selecting “cheapest first” to see the best deals.
There are other portable dehumidifiers you could try too.
We tested five different mini dehumifiers including plug-in models and similar ones to Halfords.
The winner costs £10.99 from Robert Dyas but it only lasts three months so you will need to buy refill tablets.
Meanwhile, we also tried a heated airer and a dehumidifier for drying clothes without heating.
Plus, we’ve tried five popular tricks to get rid of condensation and mould.
Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk. Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories
Money
M&S customers devastated as essential range goes missing from shelves in major shake up
M&S SHOPPERS have shared their devastation after noticing a beloved range missing from shelves.
Eagle-eyed shoppers have raised concerns after some of the supermarket’s vegan “Plant Kitchen” range is not in its usual spot.
Disgruntled customers have taken to X, formally, known as Twitter, to flag the issue with M&S.
One user wrote: “@marksandspencer why have you got rid of most of your Plant Kitchen range? I’ve noticed most of it has disappeared in most stores with the exception of the odd ready meal or frozen thing”
Another shopper was confused as to why the entire range was missing from their local branch.
They said: “@marksandspencer Finsbury Park has got completely rid of their vegan/Plant Kitchen section.”
Meanwhile, a third shopper said they were “distraught” after noticing its vegan “Sweet n Sour” ready meal was no longer available at their branch.
M&S launched its Plant Kitchen range in 2019 following a rise in veganism and meat alternatives.
It has become a fan favourite among shoppers as some Brits remain conscious about their consumption of animal products.
But despite concerns from shoppers, the range is not being axed completely.
The popular retailer has confirmed to The Sun the Plant Kitchen range is instead undergoing a major revamp.
An M&S spokesperson said: “We are currently working through a big project to relaunch our Plant Kitchen vegan range.
“We have not changed the number of vegan products per se, but are in the process of changing their design, upgrading the product quality, launching some key new lines while removing a few others and changing their position in store.”
As part of the revamp, some products will no longer be in a designated vegan section and will be spread across the store instead.
For example, a plant-based burger will now be sold alongside beef products.
M&S said this is to support customers who are looking to reduce meat in their diet and try meat-alternative products.
But this has not impressed some customers with one describing it as a “terrible” idea in a Reddit post.
While another joked: “Suddenly realising I’m incredibly lazy and can’t be bothered to walk around the entire store to find the few ready meals I can actually eat.”
A third customer described the change in lay out as “ridiculous”.
Meanwhile, some of M&S’s vegan products are undergoing a refresh, meaning their recipe or packing is being changed. These include:
- Plant Kitchen Lasagne – returning in January
- Plant Kitchen stonebaked vegan chicken pizza – replaced with Plant Kitchen BBQ Veggie Pizza
- Plant Kitchen Margherita Sourdough Pizza – currently removed but returning
- Plant Kitchen Wood Fired Hot and Spicy pizza – currently removed but returning
It is not clear when some of these items will be making a return but The Sun will update this article when it receives confirmation.
M&S has also launched four new vegan items which include:
- Plant Kitchen Battered Sweet & Sour Cauliflower
- Plant Kitchen Mushroom Bolognese
- Plant Kitchen Spinach & Cannellini Bean Ravioli
It is not unusual for M&S to change product ranges.
Earlier this year the store said it would axe some of the treats from its Colin and Connie sweet range as part of a product relaunch.
Over the summer, M&S scrapped its Colin and Connie “Together Forever” sweets.
M&S also confirmed that it is quietly axing the Colin The Caterpillar Fizzy Rainbow sweets.
The sweets were rainbow in colour with a sour sugary coating.
What else is new at M&S?
Thankfully, it is not all doom and gloom for M&S shoppers as the retailer confirmed it will bring back an iconic drink this Christmas.
The supermarket’s original snow globe gin liqueur will make a return for the holidays after a hiatus.
Previously, the gin came in two flavours – Clementine and Spiced Sugar Plum – but this year, only the Clementine one will be sold.
The store has started rolling out its entire Christmas range to shoppers, which includes hot honey over halloumi in blankets brie brulee, and Turkey Feast dip.
M&S’s food-to-order range for the holidays is also now open for online orders and collection between December 22 and December 24.
Why are products axed or recipes changed?
ANALYSIS by chief consumer reporter James Flanders.
Food and drinks makers have been known to tweak their recipes or axe items altogether.
They often say that this is down to the changing tastes of customers.
There are several reasons why this could be done.
For example, government regulation, like the “sugar tax,” forces firms to change their recipes.
Some manufacturers might choose to tweak ingredients to cut costs.
They may opt for a cheaper alternative, especially when costs are rising to keep prices stable.
For example, Tango Cherry disappeared from shelves in 2018.
It has recently returned after six years away but as a sugar-free version.
Fanta removed sweetener from its sugar-free alternative earlier this year.
Suntory tweaked the flavour of its flagship Lucozade Original and Orange energy drinks.
While the amount of sugar in every bottle remains unchanged, the supplier swapped out the sweetener aspartame for sucralose.
Money
Wilko to deliver 1,000s of items direct to your door in under 25 minutes – see full list of locations & if it’s near you
WILKO shoppers will soon be able to get thousands of products directly to their doors in less than 25 minutes.
The beloved discounter is continuing its resurgence after falling into administration in 2023 and shutting all its shops.
The chain has now teamed up with courier service Deliveroo and will be delivering a range of 3,000 homeware essentials.
Available through the Deliveroo app product ranges include: garden, home, kitchen, DIY, cleaning, pet care and storage.
It means you can bag the items Wilko is most known for like dog poo bags and sachets of seeds in under 25 minutes.
The rollout is set to start with just 10 sites in the UK, before rolling out more widely.
The first 10 sites are:
- Edinburgh
- Bristol
- Nottingham
- Bournemouth
- Eccles
- Manchester
- Bedford
- Harlow
- Plymouth
- Leeds
This will be the first time Wilko has offered an on-demand, rapid delivery service.
The partnership will be expanded to a further 50 locations across the country by the end of the year.
Alex Simpkin, group chief executive officer at CDS Superstores trading as Wilko and The Range, said: “It’s great to be making Wilko so much more accessible to its loyal customer base.
“There’s a huge love for the brand and while we continue to open new stores this partnership gives us the opportunity to reach people quicker. All the great things you expect from Wilko and more in as little as 25 minutes!”
Wilko is the latest brand to sell homeware essentials on the Deliveroo app.
Eric French, Chief Operating Officer at Deliveroo, said: “It’s fantastic to welcome family favourite Wilko onto Deliveroo and to offer their huge range of household essentials for delivery in as little as 25 minutes.
“Our customers really value the convenience of having the high street brought to their doorstep, and that’s why we’re excited to continue our collaborations with well-loved retailers like Wilko as we expand ‘Deliveroo Shopping’ and add more selection for our customers.”
You can download the Deliveroo app through your phone’s app store for free.
Wilko’s return
Millions of hearts broke around the country when beloved high street staple Wilko announced it was shutting all of its shops.
The discount retailer is slowly rebuilding its presence on high streets after collapsing into administration in August 2023 and closing all of its 400 stores.
Following several failed rescue bids, fellow bargain chain The Range bought Wilko‘s name and intellectual property.
CDS Superstores, trading as The Range and Wilko, relaunched the latter’s website shortly after the sale went through and began selling classic Wilko products in the former’s stores.
Then, in late November, the retailer shocked fans by announcing that physical stores would also be making a comeback.
By December, three shops were open in Plymouth, Exeter, and Luton.
In March, a further two sites opened in St Albans and Rotherham. In August the chain welcomed its sixth store in Poole.
Wilko has confirmed that its Uxbridge store will open its doors to customers at 9am on November 22 – right in time for Christmas.
This store launch forms part of Wilko’s expansion plans, with a further national roll-out planned.
Most recently the chain also launched its first Amazon webshop on the retail giant’s site.
Shoppers can browse and shop ranges including pet essentials, cleaning products, paint, electricals, storage, homewares, and soft furnishings such as curtains and bedding.
What happened to Wilko
Here is a timeline of what happened to Wilko
- May 2021: Wilko full year pre-tax profits drop and sales decline £107m thanks to a “challenging retail landscape” in the wake of the Covid-19 crisis.
- January 2022: The retailer reveals plans to close 15 stores in 2022, putting hundreds of jobs on the line.
- September 2022: Supplier payments are deferred and extended in a bid to manage cash flow. Wilko asks landlords to pay its quarterly rent bill in monthly instalments as it conserves cash to stock up for Christmas.
- October 2022: The business drafts in advisers from Teneo as it tries to find ways to cut costs.
- Credit insurers Allianz Trade and Atradius withdraws cover for the firm.
- November 2022: Wilko tries to secure an emergency £30m cash injection as cost pressures intensify in the run-up to Christmas as managing director Alison Hands departs the business. The retailer posts a £36.8m loss in the year to January 29, 2022 in ‘incredibly difficult period’.
- December 2022: The company names Bensons for Beds boss Mark Jackson as its new CEO as talks continue over a refinancing.
- January 2023: Wilko secures a £40m lifeline from Homebase and Cath Kidston owner Hilco UK and tells suppliers it will no longer stock toys across its stores, as it focuses on selling garden and household goods.
- February 2023: The business reveals plans to axe over 400 jobs as it looks to control costs and shuffles its senior leadership team
- May 2023: Wilko considers launching a CVA to cut rent costs and potentially close stores
- June 2023: The retailer hires property agent CBRE to help negotiate lower rents as PwC lined up to manage a CVA.
- July 2023: The business looks to secure fresh funding as its owners consider selling a controlling stake Hilco agrees to lend about £5m in additional funding to Wilko as it faces an intensifying cash squeeze.
- August 2023: Wilko appoints PwC as administrator, potentially putting 12,000 jobs at risk.
- September 2023: Poundland swooped in to snap up 71 Wilko stores while administrators sold up to 51 Wilko stores to rival B&M. PwC agree the sale of the retailer’s brand name and intellectual property to The Range in a £5million deal.
- October 2023: All Wilko stores close and disappear from the high street. Wilko reveals that its online shop is back. Wilko shops announced to return too.
- December 2023: First Wilko stores return in Exeter and Plymouth
What other retailers have made a comeback?
It has been a tough time for retailers since Covid and the last few years have seen many vanish from our high streets.
The rising cost of living and expensive rents have all been playing a part in the demise of some of our much-loved high street names.
This week saw the return of the beloved record chain Our Price.
The record store was once a staple of the UK high street from the early 1970s until 2004.
The first store was on London‘s Finchley Road, and the brand had as many as 300 branches at its peak, making it one of the biggest music store chains in the UK.
Last week Our Price revealed it would be making a return as music lovers will once again be able to buy thousands of vinyls and other merch.
Shoppers can browse the catalogue online for now only, owners have not ruled out the return to physical stores at some point in the future.
Toys R Us is also among those which has managed to make a comeback.
The popular toy brand opened up nine new shops in 2023 after vanishing from the high street in 2018.
However, the new stores are slightly different as they are “shop-in-shops” and are located inside WHSmith stores.
Toys R Us will be opening 30 new shops across the UK this summer following the successful opening of almost a dozen stores last year.
In October last year, Paperchase also made a return after closing all of its 134 shops and concessions earlier in the year. Fans of the brand were devastated when the retailer disappeared from the high street in April after falling into administration.
However, supermarket giant Tesco stepped in and bought the rights to the brand and then went on to launch it in some of its stores.
A total of 261 Tesco stores now stock Paperchase products – we have the full list here.
M&Co, previously called Mackay’s, fell into administration for the second time in two years in December 2022. Fellow retailer Yours Clothing bought the M&Co brand and intellectual property.
The retailer launched a new M&Co website in June 2023 and The Sun exclusively revealed its plans to open up physical stores starting in May 2024.
Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.
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Money
Legendary antiques shop loved by celebs & designers is closing after 60 years on busy high street
A LEGENDARY antiques shop loved by celebrities and designers is closing after 60 years on a busy high street.
Guinevere, on London’s King’s Road, has seen the like of Ralph Lauren, Mick Jagger, and Elton John through its doors.
But the shop is set to close on this Christmas Eve after Genevieve Weaver founded it back in 1963, the FT reports.
Weaver’s sons Marc and Kevin took over the business in the early 1980s but the pair have been forced to close the store by rising shipping costs.
They’ll now shift to selling their wares online and Guinevere will continue “in some form”.
The store has sold everything from Persian rugs, to a maharaja’s side table, to Han dynasty jars.
Genevieve died in the 2000s after buying items from around the globe.
Remembering his mother, Marc said: “She only bought what she liked. She’d say if something was ugly in the 19th century it would still be ugly in the 21st.
“Provenance and history mattered. But it had to look good. That was her number one criterion.”
Guinevere is arranged across four shops and two storeys that have never been properly connected together.
Each room has its own atmosphere but without a cohesive theme, finding mosque lamps next to mid-century furniture.
In fact, Guinevere was one of the first dealers to start selling mid-century pieces and also the currently popular Japanese Imari porcelain.
The closure comes after another antique store in Pulborough shut its doors for good at the end of February.
Like Guinevere, its owners pinned the cause for their closure also on a rise in costs.
Meanwhile Casa Fina, an independent home accessories store on High Street in Salisbury has shut its doors after 40 years.
Although Susi conceded the closure marked the end of an era, she revealed the space would be used by a new independent business.
Why are retailers closing stores?
RETAILERS have been feeling the squeeze since the pandemic, while shoppers are cutting back on spending due to the soaring cost of living crisis.
High energy costs and a move to shopping online after the pandemic are also taking a toll, and many high street shops have struggled to keep going.
The high street has seen a whole raft of closures over the past year, and more are coming.
The number of jobs lost in British retail dropped last year, but 120,000 people still lost their employment, figures have suggested.
Figures from the Centre for Retail Research revealed that 10,494 shops closed for the last time during 2023, and 119,405 jobs were lost in the sector.
It was fewer shops than had been lost for several years, and a reduction from 151,641 jobs lost in 2022.
The centre’s director, Professor Joshua Bamfield, said the improvement is “less bad” than good.
Although there were some big-name losses from the high street, including Wilko, many large companies had already gone bust before 2022, the centre said, such as Topshop owner Arcadia, Jessops and Debenhams.
“The cost-of-living crisis, inflation and increases in interest rates have led many consumers to tighten their belts, reducing retail spend,” Prof Bamfield said.
“Retailers themselves have suffered increasing energy and occupancy costs, staff shortages and falling demand that have made rebuilding profits after extensive store closures during the pandemic exceptionally difficult.”
Alongside Wilko, which employed around 12,000 people when it collapsed, 2023’s biggest failures included Paperchase, Cath Kidston, Planet Organic and Tile Giant.
The Centre for Retail Research said most stores were closed because companies were trying to reorganise and cut costs rather than the business failing.
However, experts have warned there will likely be more failures this year as consumers keep their belts tight and borrowing costs soar for businesses.
The Body Shop and Ted Baker are the biggest names to have already collapsed into administration this year.
Money
Shoppers rush to buy giant Halloween decoration that will stun neighbours scanning for £25 instead of £140
SHOPPERS are rushing to buy a giant Halloween decoration that will leave the neighbours stunned.
If you’re planning on going all out at the spookiest time of year, this terrifying 7ft inflatable scarecrow, accompanied with a scared-looking pumpkin, might be the perfect buy.
The towering figure leans forward with open arms as if to jump out at passers by.
And it will definitely put the fear into trick-or-treaters when they come knocking.
The inflatable, which also has LED lighting as part of it, was on sale at online store Studio for a steep £139.99.
But with Halloween just two weeks away, buyers can now save a whopping £115 – with it being reduced to just £24.99.
If you fancy the near 80 per cent discount, you better be quick as there is only a few left on the site.
Debenhams is selling a similar possessed skeleton for £56.
Meanwhile Asda has an inflatable ghost for £20 – but it’s only 3ft.
SHOPPING AROUND
Just because something is on offer, or is part of a sale, it doesn’t mean it’s always a good deal.
There are plenty of comparison websites out there that’ll check prices for you – so don’t be left paying more than you have to.
Most of them work by comparing the prices across hundreds of retailers.
Google Shopping is a tool that lets users search for and compare prices for products across the web.
Simply type in keywords, or a product number, to bring up search results.
Price Spy logs the history of how much something costs from over 3,000 different retailers, including Argos, Amazon, eBay and the supermarkets.
Once you select an individual product you can quickly compare which stores have the best price and which have it in stock.
Idealo is another website that lets you compare prices between retailers.
All shoppers need to do is search for the item they need and the website will rank them from the cheapest to the most expensive one.
CamelCamelCamel only works on goods being sold on Amazon.
To use it, type in the URL of the product you want to check the price of.
How to save on Halloween
CUT-OUTS WON’T KEEP: Once carved, pumpkins last just three to five days before they start to rot. So wait until a day or two before Halloween to carve yours, to ensure you won’t have to buy a replacement.
CHILLING CARVINGS: Carve your pumpkin right first time. Download free templates from Hobbycraft to help ensure no slip-ups.
DEVILISHY CHEAP DECORATIONS: Create spooky spider webs using old string or rope.
PAY LESS FOR FACE PAINTS: Cut costs by using your old eyeliners and eyeshadows, and dab on some talc when you need a ghostly white shade.
CUT-PRICE CANDY: Before you buy sweets to give out as treats, clear out your cupboards and see what you have. If you need more, shop bulk deals and compare the price per kilo before you buy.
PETRIFYING POT LUCK: Ask your guests to each bring a delicious themed dish to your party to keep hosting costs down.
SPINE-CHILLING TUNES: Turn to YouTube for a frighteningly good free playlist. There are dozens of channels with hour-long music mixes.
HOLD A SPOOKY SWISH: Swishing — or clothes-swapping with friends — is an easy way to get a new wardrobe. Hold a spooky swish before Halloween to trade costumes for kids and adults.
FRIGHTENING FREEBIES: Sign up for a free local Halloween event. Check your local Nextdoor or Facebook pages, or search eventbrite.co.uk for ideas.
BLOODY GOOD DEAL: Don’t fork out for expensive fake blood. Make your own edible version instead. You can use it for cakes and to decorate costumes.
SHOP ON NOV 1: Be organised and bag the bargains for next year by hitting the shops the day after Halloween. Remember to buy your kids’ costumes a size larger to allow for growth.
Money
Legendary club made famous by The Smiths on brink of closure as bosses beg for ‘urgent cash injection NOW’
A LEGENDARY club made famous by The Smiths is on the brink of closure as bosses beg for an immediate “cash injection”.
The Salford Lads Club is at risk of closing permanently after serving as a vital support for young people from deprived communities for over 120 years.
The centre in Greater Manchester needs to secure a whopping £250,000 by the end of November if they want to avoid shutting down for good.
The club was founded in 1903 with the mission to “Brighten Young Lives and Make Good Citizens”.
Over the years, Salford Lads Club has nurtured young talent across Manchester, building a proud legacy.
However, rising costs and reduced grant income mean the club is set to run out of funding in just eight weeks.
The Greater Manchester Institute once housed the 1960s pop group The Hollies who regularly practiced there before becoming famous.
Footballers who have gone on to play for Manchester United and City also used the club.
The centre gained global recognition in 1985 when the Manchester band The Smiths used the club as the backdrop for their iconic image.
The club’s newfound fame brought in a new source of funding from fans of the band, who still make pilgrimages to the building to this day.
The building has also been featured in several popular films and series including Peaky Blinders.
Unfortunately, the revenue generated by filmmakers and visitors isn’t enough to support the huge costs needed to deliver youth programmes to the community.
The Salford Lads Club provides sports and activities to over 200 young people, six days a week, in one of the most deprived areas of the UK.
Rising costs have made it challenging for the club’s management to maintain its 120-year-old Grade II listed building.
The club’s management also needs to hire staff to help run the activities and better compete for grants.
Bosses revealed that the decline in grant income is a result of an oversaturated and competitive market.
The Greater Manchester-based club spends £15,000 on utilities a year.
Another £15,000 is used for building maintenance and insurance is costing the club £13,000 a year.
The club requires £108,000 to cover its monthly losses for the next six months while management seeks new initiatives to generate funds.
However, The Salford Lads Club urgently requires £55,000 for new staff over six months, along with an additional £98,000 to restore services.
Last year, the club generated around £160,000 from donations, money from open days and visitors.
Yet, its outgoings totalled a whopping £394,700.
The Greater Manchester club is located in Ordsall, where an astonishing 689 children under 16 come from low-income families.
That is an eye-watering 46 per cent of all children in the area.
Laura Slingsby, head of youth operations, told Manchester Evening News: “Our mission has always been to ‘Brighten Young Lives and Make Good Citizens’.
“Today, that mission is more relevant than ever, as many of the young people we serve face challenges like gang culture, poverty, and lack of opportunity.
“The club needs the urgent cash injection now to help close the current funding gap, as even if £1m is secured for the Legacy Fund now the returns wouldn’t be generated until next year.”
A fundraiser has been launched to help raise the £250,000 that The Salford Lads Club urgently needs.
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