Another Black Friday
There's a great deal of grim news around this morning.
I'm hearing very bleak reports about prospects for Entertainment UK, the wholesaler of music, electronic games, DVDs and books, that's owned by troubled Woolies.
A significant slimming down of Entertainment UK now looks likely, I am told - which would be bleak indeed for its employees, who number well over 1000.
Also, HBOS - owner of the Halifax - has reported a significant increase in the charges it takes for bad debts.
If you add together HBOS's investment losses and securities losses with an incremental impairment charges on mortgages, personal loans and corporate loans, there has been a £3bn rise over just the last two months in all these categories of loss.
So that's £3bn of additional loss incurred by HBOS, owner of the Halifax, since 30 September.
The most horrible trend is in lending to big companies. For the first 11 months of the year, the impairment charge on corporate loans is £3.3bn, an increase of 560% since 30 June.
That says a great deal about how the economy has deteriorated since the summer. But it also implies that HBOS's corporate lending department was taking excessive risks.
For the year as a whole, HBOS is also going to suffer a loss on unsecured lending to consumers in excess of £1bn.
As for the impairment charge on mortgages, that's £700m for the first 11 months of 2008 - but rising very fast indeed.
That's causing massive anxiety in the British car industry - and is particularly alarming for Vauxhall, the British subsidiary of General Motors.
Vauxhall employs 5,000 directly and countless others indirectly at suppliers and distributors.
My understanding is that the Business Department views Vauxhall as "viable" - which is its test for whether it should receive state support, if the worst were to come to the worst and General Motors itself were to collapse.
So the moment when we as taxpayers start providing financial help to individual motor manufacturers, to keep them alive through the acute phase of our economic contraction, is fast approaching.
UPDATE 1300 GMT:: The administrators to Entertainment UK have announced that they are "scaling down" efforts to find a buyer for the wholesaler and are making 750 employees redundant. It looks very unlikely that this supplier to the big supermarkets will survive.
There will be pain for book publishers, electronic games creators, DVD publishers and music businesses. And there will also be disruption to retailers, notably Zavvi, the chain of music stores.