Very sad and tragic news. RIP Peter Monteith.
It certainly isn't easy for trainers at the moment, costs are going through the roof - the price of hay has nearly doubled in a lot of places this year and can be hard to get hold of in any quantity, straw is a similar story, feed and bedding prices are all being hiked and so on. With the economy the way it is, trainers cannot afford to put up their training fees either and risk losing owners so they are having to swallow a lot of the costs. One indicator of the situation is in the amount of freelance grooms looking for work at the moment - yet there is some work there as more and more yards are cutting back on the full time staff and employing freelances.
That said, life is also tough for feed merchants, hay/bedding suppliers, landlords of rented yards and so on, especially as the trainers find their cashflow strangled, so they fail to pay up. Trainers are the notoriously slowest payers out there - if they pay it! Plenty on the forfeit list for knocking people.