Literal Meaning (referring to a very difficult situation):
* The company was in dire straits after losing its biggest client.
* The stranded hikers were in dire straits with dwindling supplies and no way to contact help.
Figurative Meaning (referring to a difficult situation, often involving financial hardship):
* After the stock market crash, many people found themselves in dire straits.
* The struggling artist was in dire straits and had to sell his prized possessions to make ends meet.
Using the Phrase as a Title:
* "Dire Straits" was the name of a popular rock band known for their melancholic melodies and poetic lyrics.
Remember: "Dire straits" is always used as a plural noun phrase, meaning "a very difficult or desperate situation."