In grim news for the economy, the Centre for Economics and Business Research (CEBR) is forecasting a possible 10 more years of austerity, reports have revealed.
Just weeks after it released its new year predictions, the think tank's latest report said the deficit built up by Labour will not be erased until after 2020 and possibly not until 2023.
And the UK's AAA credit rating could be at risk, the CEBR warned, as debt continues to mount.
The economy has been hit hard already this year with news of Jessop's recent demise, and also the shock news that HMV has placed itself into administration.
Combined, the two firms employ more than 6,000 people.
The CEBR report blames weak growth and the government's failure to slash spending, and this failure to reduce borrowing means national debt will hit almost 85 per cent of national income in the next five years and will not start falling until at least 2018-19.
Infrastructure provider says international sales now make up 51 per cent of its revenue
Suzanne Chappell of TMS plans sailing venture after selling Oxfordshire-based TMS to acquisitive Chess
Withdrawal of credit insurance by some providers a 'reflection' of current challenge facing IT sector, according to MD Steve Soper
SMART's UK managing director joins Lenovo to boost SMB business