The EU have just come out of their summit rejecting the "Chequers" plan that Theresa May had put forward. They are still demanding that NI stay in the EU (effectively annexing Northern Ireland) despite Parliament voting to forbid this happening without the explicit permission of the people of NI (where there is a majority to stay in the UK) and despite the UK pointing out that NI does more trade with the rest of Britain than it does with the Republic of Ireland, so the EU's plans would devastate Northern Ireland's economy, plunging them into recession.
So what now? For some reason the EU thinks that the UK will either back down or cancel Brexit. But the voters want it all over and done with - so I think what Theresa May said was correct - it's either the Chequers Deal or No Deal.
It is not even clear that Theresa May will survive as Prime Minister - if she even attempts to cave to the EU, her party will remove her and put someone in place that will ensure we leave with No Deal. So she might as well push for No Deal herself.
Businesses and households need to trigger their No Deal plans right away - they have just over six months to get everything in place, and the smart ones started implementing their plans last March when it became clear that there was an impasse,
One silver lining - it will all be over quickly and the UK won't have to pay the "exit fee" that the EU demanded in return for a deal, because there won't be any deal.