go to hell in a handbasket

from The Collaborative International Dictionary of English v.0.48

handbasket \hand"bask*et\ n.
   a container that is usually woven and has handles.

   Syn: basket.
        [WordNet 1.5]

   {go to hell in a handbasket} to deteriorate substantially and
      quickly; as, after they lost the contract, the company's
      profits went to hell in a handbasket.
      [PJC]