The world-famous garter company, Milligan's Threadgold Thoroughgrip Garters, has gone into receivership citing lack of demand for its flagship product.
There has been a steady decline in demand for garters since the invention of elastic tights and the fact that noboby gets married anymore and just lives in sin.
Even the latest "Internet of Things" garter did not help as consumers could not understand why they would need a garter that alerted them to slippage via a push notification sent to their mobile phone.
A spokesperson for the garter company, formerly General Montgomery's batman, explained:
Garters have gone out of fashion as all the girls are going commando on a Saturday night. It's very sad even though cab drivers love it.
Travis Bickle, a cab driver from Luton, commented:
You talkin' to me? Listen, loneliness has followed me all my life - I guess he's lonely, you know? Anyway, this city is a toilet. Funny thing is, I had Martin Scorcese in the back of my cab once. Yeah. I'm telling you...that piece of chicken Iris never wore a garter and I never found out if Betsy wore one as she left that porn movie before I even finished my JuJus.