Oh dear, it's all going wrong isn't it? Credit is crunching more than a bag of popcorn and we really do seem to be in the middle of a serious situation. It's reached the point where even the most optimistic are seeing their businesses suffer, the Qualceram Shires story seems to be getting worse and worse, MFI might be relying on a merger to dig itself out of a hole and even Ripples is feeling the pinch.

And I don't know about you but there's a frisson in the air that makes me feel it could start to get very nasty very soon.

The truth is that this is an industry that operates on credit, every retailer has an account with distributors and suppliers and settles up as and when. The trouble is that in times of plenty it's easy to sail close to the wind and stretch payment deadlines and use good relationships to manufacture favours.

However, as a downturn kicks in and cash flow becomes tight the first thing creditors will do is call everybody who owes them money and ask for it - now. Equally, if payment is due on the first of the month, then no amount of bon homie will excuse you if you're coming up short on the second.

This is the sad truth that will finish of many more retailers in over the next year or so and the fate of Ripples Cheltenham will befall many more ill prepared retailers before this crisis is finished.

However, I must admit that I am finding it difficult to feel much sympathy for manufacturers, suppliers and retailers who are struggling in this downturn due to nothing other than that ability to prepare for a future we all knew was inevitable sooner or later. I know it's easier said than done but any business with long term aspirations must surely squirrel away nuts for the winter and those that haven't will be the ones feeling very chilly and hungry come 2009.

If there's ever a time to stop relying on recommendations and go out and find new business it's right now.