Can a company retract a offer due to financial reasons ?

I was offered a job in South England and after handing my notice in for both my Job and House where I live (barnsley) they have know come back to say that they cant employ me as they are having financial problems.

can they do this ?

I am now facing the fact of losing my house and job where I currently live, leaving me in alot of mess!

I have the offer letter confirming my salary and holiday etc

Answer:
I'm fairly certain they can retract their offer. That sucks. I may be a blessing in disguise for you if they are having problems. Other Questions and Answers:
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