They are both iconic British retail emporiums which failed to image imagekeep up with modern times and maintain their public appeal.

But it’s still a sad day, a very sad day, to learn that both Woolworths and MFI (whose furniture can we joke about now?) have gone into administration.

This comes on top of reading today how 30 local journalists – a couple who I know – have lost their jobs at Anglia TV in a cost cutting shake-up by ITV to save £40m a year by axing more than 400 posts across its regional news service.

I remember escaping redundancy by the skin of my teeth at the Cambridge Evening News when the paper lost its lucrative estate agents advertising deal to a competitor. Who got the chop was decided on a "last in – first out" basis. My name was top of the list of those whose job was saved.

It is the most terrible gut wrenching, nerve wracking, depressing and demoralising experience. I lived on a very sharp knife edge for a few weeks and can imagine how desperately worried those thousands of poor souls must be feeling whose jobs are at risk.

It is truly a black Wednesday.