The film is ostensibly a comedy heist: a group of unemployed teenagers come up with a plan which involves stealing stainless steel sinks from a local warehouse. As in other Bill Forsyth films though, plot only matters to an extent, with the whimsical aspect is undercut by bitter detail (the boys' hopelessness), and its narrative refusing to stick to a conventional linear structure.
In the opening sequence, Glasgow looks for the most part desolate, a city whose skyline, dominated by high-rises, is repeatedly revealed in the long establishing shots. The desolation of the landscape is soon matched by a story of unemployment and deprivation: when trying to purchase a hamburger and a coffee, Vic (John Hughes) realises that he cannot pay the 45 pence the lady in the van is requesting. The scene in which we first meet the leader of the teenage gang, Ronnie (Robert Buchanan), is of a similarly bleak tone: his speech to the equestrian statue of Lord Roberts situated in Kelvingrove Park starts off in a semi-jovial tone as the teenager ponders "You’ve got to make the most of what life offers you" and tries to reflect on what assets he and the Field Marshall may have in common; the pitch soon shifts when he looks at the statue’s plaque and exclaims, "Oh wait a minute, I don’t see that many O-levels there (…) How did you do it? And why don’t I have a job?" To emphasise his point, he violently kicks the (physical and metaphorical) barrier that separates him from his 'interlocutor'.
This is not to say that That Sinking Feeling is about mere social realism – the continuous interplay between comedy and seriousness constantly downplays any sense of hefty political commentary. Contrasting elements come together in unexpected way – as in the scene when Wal (Billy Greenlees) ends up selling his sinks to the art collector (and Blasted local hero - Ed.) Richard Demarco (played by himself), his goods mistaken for the "Latest development of the New York School".