Philip Green was once the swaggering king of the high street.
Now his Arcadia empire is on the brink of collapse.
Many will take joy in the humbling of the brash entrepreneur.
But nobody should take any pleasure in the fact that as many as 15,000 staff could now lose their jobs.
It is not their fault Covid-19 struck at the worst possible time for the company.
Nor should they be blamed for the fact that Arcadia might have prospered if Mr Green – he does not deserve his knighthood – had not treated it as a personal cash cow.
In 2005 alone he paid his wife £1.2billion in dividends, four times the firm’s pre-tax profits.
It is entirely typical of his behaviour that the moment thousands of staff fear the axe, he jets off to the Maldives.
Arcadia employees now face an anxious Christmas.
They deserve better than working for a man whose name has become a byword for all that is wrong with business.
At every stage of the Covid crisis, Boris Johnson has failed to deliver on promises.
We were told Britain would soon have a “world-beating” test and trace system but it is still not functioning effectively.
We were told in July the virus could be defeated by Christmas but now we are braced for restrictions until at least March.
And we were told that people in care homes would be protected – only for an estimated 20,000 residents to die of coronavirus.
Just this week Mr Johnson said that all local authorities in Tier 3 would be offered the rapid mass-testing seen in Liverpool.
Now we learn that may not be possible.
The Prime Minister needs to stop raising false hopes and start focusing on his job.
Just Corrie on
Next month marks the 60th anniversary of our beloved Coronation Street.
The world has changed a lot since 1960 but one thing is the same: Corrie is still a constant source of drama and entertainment.