Microsoft Excel - Run time erroe 1004 The file could not be accessed

The existing excel file was working since yesterday an dtoday suddenly all the users reported above error "Run time error 1004"  with discripion " File could not be accessed .Try one of the following

Make sure the specified folder exist

Make sure that the folder contains the file is not read only

There could be various reasons for the cause of this error and I would suggest you to check the following

1. Make sure the specified folder exists
2. Make sure the folder that contains the file is not read-only
3. Make sure the file name does not contain any of the following characters: <>?[]; shows file name or *
4. Make sure the file/path name doesn't contain more than 281 characters
5. It could be due to timeout in query, find more details here