Hidden Horsham - The Credit Crunch

Horsham Building Society Advertisment*

The Credit Crunch was a phrase that entered the English language in 2007. It came into circulation with the demise of sub-prime mortgages and, in turn, the expression 'toxic debt' joined the world's vocabulary in September 2008

So what has this to do with Horsham and why is Hidden Horsham so interested? It is because the high street is almost certainly going to lose a few banks, not that Horsham actually has anywhere named 'High Street'. Shop fronts in and around the Carfax that we have become accustomed to, like it or not, will be updated or removed depending on what the shake-out of the bank take-overs deliver

Lloyds TSB takeover HBOS
Lloyds TSB	Halifax

Although the signage at the time of writing (Oct 2008) is not particularly of historical interest today it is something that is in our memories. Familiar brands including Bradford & Bingley and Halifax Bank of Scotland (HBoS) may disappear forever and this feature is taking the opportunity to record those shop fronts now. Lloyds TSB are due to take over HBoS may renew their frontage if they are going to exploit the HBoS brand. Santander, who also own Abbey are taking over the savings side of Bradford & Bingley whilst the UK government is picking up the mortgages and loans. Northern Rock never had a presence in Horsham, nor had Lehman Brothers, so their demise will not be witnessed here

Santander takeover Bradford & Bingley
Abbey is also owned by Santander	Bradford & Bingley

The opening and subsequent failing of banks and building societies is not new to the history of Horsham. In 1856 the Horsham Permanent Benefit Building Society was opened and by 1874 it was the Horsham and Crawley Building Society. Some thirty years later in 1914 it went into liquidation only to be resurrected as the Horsham Building Society. Co-incidently Bradford & Bingley now occupy the their former site at 30 Carfax

This feature will be revisited in later months when the bank takeover frenzy has settled down. The new frontages will be recorded

Nov 2008 update: Rosebys, suppliers of curtains and linen, in Swan Walk went into administration on the 25^th of September and the shutters have been closed ever since. The VW car dealership Sidlow also entered administration on the 30^th of October

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