After nearly 126 years Young & Co. Fine Jewellery will be closing its doors
A landmark 126-year-old London business will close its doors for the last time this Christmas.
Young & Co. Fine Jewellery is an independent holdout in the world of big-box retailers.
The decision to close comes as a lease for the store's location expires. Owner Bill Young plans to retire while considering an online presence.
The move is accepted but hard to take for long-time employee Deb Grima.
“Well, when you work with someone for 15 years, it’s not just a store or a job; you are family,” she expressed through tears.
Long-time Young & Co. employee Deb Grima in London, Ont. on Thursday, Oct. 28, 2021. (Sean Irvine / CTV News)
And, without argument, Young & Co. has truly been a family operation.
Four generations have operated the company, starting with Bill’s great-grandfather, William G Young, in 1894.
“Silverware was a big item back in those days and everybody had silver tea services and silver pieces.”
The business began on Dundas Street in London's downtown.
The original Young's Jewellers location on Dundas Street in downtown London, Ont. in 1894. (Source: Young family)
Since then it has moved, or expanded, to stores in East London, Wellington Square Mall (Now Citi Plaza), Westmount Mall and the current store and Southdale and Colonel Talbot roads.
In 1995, the company also went through a major change. In that year, the original Young’s Jewellers name was purchased by the People’s Jewellers chain.
That stopped Bill from using his family’s trademark, so he just adapted it to Young & Co. and continued until now.
“You have to make a business decision at some point, just as my father and my grandfathers did.”
Bill Young outside the current Young & Co. Fine Jewellers at Southdale Road West and Colonel Talbot Road in London, Ont. on Thursday, Oct. 28, 2021. (Sean Irvine / CTV News)
Still, it is a hard reality for long-time customers like Fred Taylor.
“I like the small retail stores as opposed to the big-box ones, so I’m sad to see them closing up.”
Taylor was picking up a necklace for himself. In the last six months, he’s bought his wife, Nancy, new earrings and a big ring at Young & Co.
He loves the service but admits, with a playful laugh, that his pocketbook will be happier.
“It means it’s going to be saving a bunch of money.”
Nancy and Fred Taylor, Young & Co. customers, shop in London, Ont. on Thursday, Oct. 28, 2021. (Sean Irvine / CTV News)
But if you go back and ask Deb Grima about the sparkling products in this store, she will set you straight.
She says gold and silver keepsakes are not as valuable in cash as they are in meaning.
“Jewelry isn’t something to wear that is pretty. It has a history. And nobody phones and says, 'Is my ring ready?' They’ll phone and say, 'I left my Grandma’s ring here, and she gave it to me in this year and for this reason, and I wondered if it was ready.'”
Young & Co Fine Jewellery will have a store closing sale which begins Thursday at the location at 3010 Colonel Talbot Rd.
- With files from CTV News London's Justin Zadorsky
CTVNews.ca Top Stories
BREAKING Iran fires air defence batteries in provinces as sound of explosions heard near Isfahan
Iran fired air defence batteries early Friday morning after reports of explosions near the city of Isfahan, the state-run IRNA news agency reported.
American millionaire Jonathan Lehrer denied bail after being charged with killing Canadian couple
American millionaire Jonathan Lehrer, one of two men charged in the killings of a Canadian couple in Dominica, has been denied bail.
Nearly half of China's major cities are sinking, researchers say
Nearly half of China's major cities are suffering 'moderate to severe' levels of subsidence, putting millions at risk of flooding especially as sea levels rise.
Prince Harry formally confirms he is now a U.S. resident
Prince Harry, the son of King Charles III and fifth in line to the British throne, has formally confirmed he is now a U.S. resident.
Judge says 'no evidence fully supports' murder case against Umar Zameer as jury starts deliberations
The judge presiding over the trial of a man accused of fatally running over a Toronto police officer is telling jurors the possible verdicts they may reach based on the evidence in the case.
Health Canada to change sperm donor screening rules for men who have sex with men
Health Canada will change its longstanding policy restricting gay and bisexual men from donating to sperm banks in Canada, CTV News has learned. The federal health agency has adopted a revised directive removing the ban on gay, bisexual and other men who have sex with men, effective May 8.
Colin Jost names one celebrity who is great at hosting 'Saturday Night Live'
Colin Jost, who co-anchors Saturday Night Live's 'Weekend Update,' revealed who he thinks is one of the best hosts on the show.
Sports columnist apologizes for 'oafish' comments directed at Caitlin Clark. The controversy isn't over
A male columnist has apologized for a cringeworthy moment during former University of Iowa superstar and college basketball's highest scorer Caitlin Clark's first news conference as an Indiana Fever player.
'Shopaholic' author Sophie Kinsella reveals brain cancer diagnosis
Sophie Kinsella, the best-selling author behind the 'Shopaholic' book series, has revealed that she is receiving treatment for brain cancer.