Gloomy predictions for UK economy...

Thanks to Ian Murray of Geography Photos for recent pictures of Woolworths. What do you think are the reasons behind this closure?

Adams-Childrenswear retailer Adams has become the latest High Street chain to call in the administrators as it suffers from the slowdown in consumer spending.

Wedgwood- Iconic china and ceramics firm Waterford Wedgwood has gone into administration after the economic slowdown hit the debt-laden firm.

Accountants KPMG are predicting that 150,000 people in the UK will go bankrupt or enter official debt arrangements - up from an estimated 104,000 in 2008. More here.

At least 600,000 jobs could go in the UK in 2009, according to a report by a personnel managers' professional body. More here.