Something old, something new.
With a slight name change, IV Thieves have been kicking about for quite a while and for some reason, although hailing from England, managed to build up quite a following in Glasgow. The city had quite a scene of bluesy-rock stompers, led by Kain (Raising Kain) and was followed wholesale by the serious indie kids who felt they were better than the other indie kids. It's still quite strong now and if anything, it at least offers the kids an alternative to becoming a goth, so it's not all bad.
For all that, it's clear to see why the band have such a following, 'The Day Is A Downer' is a timeless slice of British Invasion pop which wowed everyone back in the 60's. It may have a slightly retro feel to it (the melodies can't escape the suggestion of The Rutles such is the popular yet pastiche type feel to them) but it works well and there's no doubt it will sound great in the live arena.
Even the dirty guitar riff which kicks in after the first chorus can't take the commercial edge off the song although it thankfully gives the song some teeth, which is a welcome addition and should set the song apart from its rivals.
There's a lot of great indie acts making music that's made for radio these days, so it's not as if it's going to be easy for IV Thieves to expect the record buying public to roll over and let the band tickle their stomachs but they have given themselves every chance of being heard with this pop ditty.