Term Store issue: The operation cannot be completed. The term store may be unavailable.

Hi,
Suddenly today, our term store started displaying the above error. I first noticed it when I was trying to view a managed metadata column of a list. I got the following error - "There was an error processing the request". When this happened more
than a couple of times, I tried to open the Term Store of the site and encountered the following error message - "The operation cannot be completed. The term store may be unavailable.". I've checked and the permissions are in place as outlined by
this article. However, the issue persists. The term store was working fine previously without any issues.
Any suggestions to resolve this will be greatly appreciated!
Thanks in advance,
Vineeth

check this one http://social.technet.microsoft.com/Forums/sharepoint/en-US/e600edef-7a63-4ee1-bd45-3e91f2acbf81/managed-metadata-failed-to-read-from-or-write-to-database-refresh-and-try-again-if-the-problem?forum=sharepointadminprevious
if you not able adding
yourself try from Central admin.
Thanks -WS SharePoint administrator, MCITP(SharePoint 2010, 2013) Blog: http://wscheema.com/blog *Please remember to mark your question as answered & Vote helpful,if this solves/helps your problem.*

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