IT is not an encouraging start to the year to see a high-profile firm like Celtic Bookmakers go into receivership. More than 200 jobs are at risk, and it is a personal tragedy for all those employees whose futures are so uncertain.
For Ivan Yates, the collapse of his business empire and dream has become a nightmare with his home now under threat. It shows how the economic downturn has left very few untouched.
However, as a nation, we cannot give way to despair.
There are encouraging signs that the green shoots for a recovery in the economy are there.
The IDA has reported an increase in new foreign jobs last year.
In addition, it detailed increases in investments and the number of companies investing here for the first time, in its latest report.
Exports also continue to grow. These are positive developments which we should not underestimate.