It's prompted many of its customers to queue up outside high street branches of the bank in the hope of withdrawing much of their money. The Bank of England has been called in to help out but many people see the news as a portent of a wider economic downturn to come.
Northern Rock, as many of you will know, are the shirt sponsors of Newcastle United and the club has been forced to review its spending strategy in the light of their recent financial devaluation.
To that end, Some People Are On The Pitch can exclusively report that the first change to be made by the Newcastle club is to reduce its investment in the supply and manufacture of its kit. As a result, we can now reveal Newcastle United's new kit for the remainder of the season, as modelled here by Michael Owen, and we think you'll agree it's not bad considering the budget they now have available…
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