Big Companies That Might Not Survive 2019

Owning and running a business isn't an easy task. The American Bankruptcy Institute revealed that, on average, about 26,000 businesses slipped into bankruptcy each year from 2013 to 2017. Also, Business Insider reported that retail bankruptcies were very prominent in the first quarter of 2018.

It is not entirely certain what makes businesses closing down, but there are lots of factors that could pilot it. Well, keep reading to find out 50+ famous American companies that are at the risk of running out of business. Brace yourself; you might find your most cherished store on the list.

50. J.Crew

Company CEO: Jim Brett

Date of Establishment: 1947

Founders: Emily Scott, Mitchell Cinader, Saul Charles

Revenue: $2.4 billion (as of 2016)

Number of employees: 9,950 (as of 2016)

Reason for closure: They expanded and increased prices when most of their customers became frugal. The company sustained under $2 billion debt and experienced a significant reduction in sales.

Image Credits: J. Crew Outlet Store/Wikimedia Commons

Image Credits: J. Crew Outlet Store/Wikimedia Commons

50. Sears Holdings

Company CEO: Eddie Lampert

Date of Establishment: March 24, 2005

Revenue: $16.702 billion (as of 2018)

Number of employees: 89,000 (as of 2017)

Reason for closure: The company had been battling dwindling sales of their product for a decade before they finally declared Chapter 11 bankruptcy in October 2018. This could be primarily due to competition in the market.

Image Credits: Phillip Pessar/Wikimedia Commons

Image Credits: Phillip Pessar/Wikimedia Commons

49. 99 Cents Only

Company CEO: Jack Sinclair

Date of Establishment: August 13, 1982.

Founder: Dave Gold

Revenue: $2.06 billion (as of 2017)

Number of employees: 17,000 (2017)

Reason for closure: The price point retailer chain has faced intense competition from companies like Dollar General, Dollar Tree, and Walmart, which led to low sales. By December 2017, the company stated a net loss of $27.1 million coupled with $33.6 million in losses in the second quarter and $8.8 million in the first quarter of the year.

Image Credits: Thankstelfair/ Wikimedia Commons

Image Credits: Thankstelfair/ Wikimedia Commons

48. GNC

Company CEO: Ken Martindale

Date of Establishment: 1935

Founder: David Shakarian

Revenue: $ 2.54 billion (as of 2016)

Number of employees: 16,800 (2016)

Reason for closure: In the second quarter of 2018, GNC reported that it had a decrease in top-line and equivalent sales as well as yields. This caused them to sell 40 percent of the company in February 2018.

Image Credits: Wikimedia Commons

Image Credits: Wikimedia Commons

47. Fred’s Pharmacy

Company CEO: Jerry A. Shore

Date of Establishment: 1947

Founder: Unknown

Revenue: $ 2.125 billion (as of 2016)

Number of employees: 7,324 (2016)

Reason for closure: In May 2018, the long-existing pharmacy noted that its top-line sales for the previous fiscal year fell 4.3 percent and its net loss was placed at $139.3 million.

Image Credits: Thomas R Machnitzki/Wikimedia Commons

Image Credits: Thomas R Machnitzki/Wikimedia Commons

46. Destination Maternity

Company CEO: Marla A. Ryan

Date of Establishment: 1982

Founders: Rebecca Matthias, Dan Matthias

Revenue: $ 0.384 billion

Number of employees: Unknown

Reason for closure: The large maternity apparel industry witnessed a 6.3 percent sales fall year over year to $406.2 million in total during 2017’s fiscal year.

Image Credits: Thomson200/ Wikimedia Commons

Image Credits: Thomson200/ Wikimedia Commons

45. Ascena Retail

Company CEO: Gary Muto

Date of Establishment: February 13, 1962

Founder: Roslyn Jaffe

Revenue: 6.995 billion (as of 2016)

Number of employees: 40,000 (2017)

Reason for closure: The retail store witnessed top-line sales reduce year over year. It was reported that the store would close 25 percent of its DressBarn stores by 2019, to rescue the company.

Image Credits: Wikimedia Commons

Image Credits: Wikimedia Commons

44. Stein Mart

Company CEO: Hunt Hawkins

Date of Establishment: 1908

Founder: Sam Stein

Revenue: $1.36 billion (as of 2016)

Number of employees: 11,000 (2017)

Reason for closure: The discount store based in Jacksonville struggled with sales and lost about $23.4 million in the year 2017.

Image Credits: Michael Rivera/Wikimedia Commons

Image Credits: Michael Rivera/Wikimedia Commons

43. JCPenney

Company CEO: Jill Soltau

Date of Establishment: 14 April 1902

Founders: James Cash Penney, William Henry McManus

Revenue: $12.019 billion (Fiscal Year 2018)

Number of employees: 95,000 (2018)

Reason for closure: The company accrued an aggregate debt of $4.2 billion, and in 2017, top-line sales reduced with 0.3 percent with net income at $116 million.

Image Credits: Jaranda~commonswiki Wikimedia Commons

Image Credits: Jaranda~commonswiki Wikimedia Commons

42. Office Depot

Company CEO: Gerry Smith

Date of Establishment: October 1986

Founder: F. Patrick Sher

Revenue: $ 10.240 billion (as of 2017)

Number of employees: 38,000 (July 2018)

Reason for closure: The office supply distributor encountered a challenging period in 2017 as its sales dropped 7 percent to a total of $10.2 billion.

Image Credits: Mr. Satterly/Wikimedia Commons

Image Credits: Mr. Satterly/Wikimedia Commons

41. Vitamin Shoppe

Company CEO: Sharon Leite

Date of Establishment: 1977

Founder: Jeffrey Horowitz

Revenue: $1.114billion (as of 2019)

Number of employees: Unknown

Reason for closure: In 2017, the nutritional supplement retailer experienced a top-line sales decrease of 8.5 percent to approximately $1.2 billion. This loss was attributed to reduced popularity of the mall and competition.

Image Credits: Corey Coyle/Wikimedia Commons

Image Credits: Corey Coyle/Wikimedia Commons

40. Neiman Marcus

Company CEO: Geoffroy Van Raemdonck

Date of Establishment: September 10, 1907

Founders: Carrie Marcus Neiman, Herbert Marcus, and Abraham Lincoln Neiman.

Revenue: $4.9B billion (as of 2018)

Number of employees: 14,300

Reason for closure: The dealers of opulence clothing net sales toppled  5 percent, in the fiscal year 2017, to $4.7 billion.

Image Credits: John Stephen Dwyer/Wikimedia Commons

Image Credits: John Stephen Dwyer/Wikimedia Commons

39. Bebe

Company CEO: Manny Mashouf

Date of Establishment: 1976

Founder: Manny Mashouf

Revenue:  $603 million (as of Fiscal Year 2009)

Number of employees: 4,433 (2008)

Reason for closure: The fashion retail company began experiencing difficulties after Neda Mashouf, and its creative director quit in 2007. Bebe reported a running loss of $4.6 million in 2017, and this was attributed to a reduction in the popularity of the mall.

Image Credits: Coolcaesar/Wikimedia Commons

Image Credits: Coolcaesar/Wikimedia Commons

38. Pier 1 Imports

Company CEO: Cheryl Bachelder

Date of Establishment: 1962

Founder: Luther Henderson

Revenue: $1.828 billion (as of 2016)

Number of employees: 13,500 (2016)

Reason for closure: In the first quarter of 2018, the company's net sales reduced by 9.2 percent year over year to a total of $371.9 million. Additionally, S&P Global analysts gave the retail store a low credit rating, and President Trump's mandatory 10 percent tariff on Chinese goods has adversely affected the furniture retail company.

Image Credits: Anthony92931/Wikimedia Commons

Image Credits: Anthony92931/Wikimedia Commons

37. Lands' End

Company CEO: Jerome Griffith

Date of Establishment: 1963

Founder: Gary Comer

Revenue: $1.452 billion (as of 2019)

Number of employees: 5,300 (2013)

Reason for closure: Lands' End's coalition with Sears fostered its original distress, coupled with how Lands' End's former CEO Federica Marchionni made some wrong decisions brought the company to her knees.

Image Credits: Corey Coyle/Wikimedia Commons

Image Credits: Corey Coyle/Wikimedia Commons

36. Guitar Center

Company CEO: Ron Japinga

Date of Establishment: 1959

Founder: Wayne Mitchell

Revenue: $2.14 billion

Number of employees: 10,000

Reason for closure: Guitar Center' guitar sales reduced 36 percent from 2005 to 2016 as it seemed that people were buying fewer guitars. Also, as of last year, the retailer had a $900 million debt to be paid.

Image Credits: Kazuhisa OTSUBO/Wikimedia Commons

Image Credits: Kazuhisa OTSUBO/Wikimedia Commons

35. Southeastern Grocers

Company CEO: Anthony Hucker

Date of Establishment: 2013

Founder: Unknown

Revenue: $1.5 billion (as of 2014)

Number of employees: Approximately 50,000 (as of July 2017)

Reason for closure: The supermarket portfolio struggled with debt, which led it to file for Chapter 11 bankruptcy protection. This lowered the company's debt by $600 million and led to the close of about 100 stores.

Image Credits: Michael Rivera/Wikimedia Commons

Image Credits: Michael Rivera/Wikimedia Commons

34. Nine West

Company CEO: Kathy Nedorostek-Kaswell

Date of Establishment: 1983

Founders: Jerome Fisher, Vince Camuto

Revenue: Bankrupt

Number of employees: Unknown

Reason for closure: The retail company is faced with a debt of $1.5 billion. There had been a decrease in sales due to lower request for ballet flats, sandals and heels.

Image Credits: John Phelan/Wikimedia Commons

Image Credits: John Phelan/Wikimedia Commons

33. Kohl's

Company CEO: Michelle Gass

Date of Establishment: September 12, 1962

Founder: Maxwell Kohl

Revenue: 20.229 billion (as of 2018)

Number of employees: 85,000 (2017)

Reason for closure: The store discovered that some of their prominent stores were struggling with sales. They noticed the ones in famous places like malls were the branches with the lowest revenue, so they decided to close some of them, to mitigate its overall effect on the company.

Image Credits: Getty Images

Image Credits: Getty Images

32. Bon-Ton

Company CEO: Jordan Voloshin (President)

Date of Establishment: 1898

Founders: Samuel and Max Grumbacher

Revenue: $2.674 billion (as of 2016)

Number of employees: 23,300 (2016)

Reason for closure: The 100-year old online retail company isn't new to the business. However, with new competitors such as Amazon, their sales declined, and they had to file for bankruptcy in 2018.

Image Credits: Lancaster Online

Image Credits: Lancaster Online

31. David's Bridal

Company CEO: Tom Lynch

Date of Establishment: 1950

Founders: Steve Erlbaum, David Reisberg

Revenue: Bankrupt

Number of employees: 9,000

Reason for closure: David's Bridal is in massive debt. The company owes $520 million loan facility scheduled for payment in 2019 and $270 million in unfixed notes to be paid in 2020. It also suffers operational and market challenges.

Image Credits: Dwight Burdette/Wikimedia Commons

Image Credits: Dwight Burdette/Wikimedia Commons

30. Tops Market

Company CEO: Frank Curci

Date of Establishment: 1962

Founders: Armand Castellani, Thomas Buscaglia

Revenue: $2.6 billion (as of 2017)

Number of employees: 14,000

Reason for closure: The supermarket chain experienced a decline in sales due to falling food costs, serious competitions, and the growing interest of customers in non-traditional retailers. They failed to keep up with the changing habits of consumers.

Image Credits: IanManka/Wikimedia Commons

Image Credits: IanManka/Wikimedia Commons

29. Cole Haan

Company CEO: Jack Boys

Date of Establishment: 1928

Founder: Andrea Fennell

Revenue: Unknown

Number of employees: Unknown

Reason for closure: the athletic shoe company, Nike formerly owned Cole Haan. It was later sold in 2013 to Apax Partners. Currently, the company is lagging in competing with its previous parent company, and this has made it less relevant.

Image Credits: Wikimedia Commons

Image Credits: Wikimedia Commons

28. Charlotte Russe

Company CEO: Jenny Ming

Date of Establishment: 1975

Founder: Daniel Lawrence and siblings

Revenue: $498,310,599

Number of Employees: 6,500

Reason for closure: With the new trend of lesser people visiting the malls and change in customer's desires, the clothing retailer has been struggling with low sales. A liquidator won the auction for the company, and this made it file for bankruptcy protection in February 2019. The women's apparel company only planned on closing 94 of its stores nationwide, but this number has increased to 500.

Image Credits: Corey Coyle/Wikimedia Commons

Image Credits: Corey Coyle/Wikimedia Commons

27. Claire's

Company CEO: Ron Marshall

Date of Establishment: 1961

Founder: Claire Schaefer

Revenue: $1.403 billion ( as of 2015)

Number of Employees: 18, 100 (as of 2015)

Reason for closure: The accessory retail company ceased its IPO, and this led to the company filing for chapter 11 bankruptcy in March 2018. The company also made plans to minimize its financial obligation to $1.9 billion.

Image Credits: Mike Mozart/Wikimedia Commons

Image Credits: Mike Mozart/Wikimedia Commons

26. FullBeauty Brands Holdings Corp

Company CEO: Apax Partners

Date of Establishment: 2012

Founder: Unknown

Revenue: Unknown

Number of Employees: Unknown

Reason for closure: The company holds Amazon accountable for its plunging sales and financial woes. The retailer disclosed to its lenders that its profits reduced by 30 percent in the first quarter of 2017 fiscal year.

Image Credits: Roaman’s/Facebook

Image Credits: Roaman’s/Facebook

25. Eddie Bauer

Company CEO: Michael Egeck

Date of Establishment: 1920

Founder: Eddie Bauer

Revenue: $214 million (as of 2007)

Number of Employees: 10,000 worldwide (as of 2007)

Reason for closure: The limited liability retail company faced lots of challenges with massive debt. Also, S&P Global's low credit rating affected the company.

Image Credits: bargainmoose/Wikimedia Commons

Image Credits: bargainmoose/Wikimedia Commons

24. Bluestem Brands

Company CEO: Bruce M. Cazenave

Date of Establishment: November 9, 2002

Founder: Brian A. Smith

Revenue: $1.8 billion

Number of Employees: Unknown

Reason for closure: The company's sales noticeably began dropping. The experienced a 10.9 percent diminish in gross sales compared to the first quarter of the fiscal year 2017, which were worth $381.1 million.

Image Credits: WinterSilks/Facebook

Image Credits: WinterSilks/Facebook

23. PetSmart Inc.

Company CEO: J.K. Symancyk

Date of Establishment: August 14, 1986

Founders: W.R Ford Smith II and Jim Dougherty

Revenue: $6.916 billion (as of 2014)

Number of Employees: 53,000+

Reason for closure: In June 2018, PetSmart decided the store struggled with debts, just like other stores. It employed reformation advisors to deal with its $8 billion deficit. Until 2022, the company won't encounter debt maturities.

Image Credits: Gabriel Vanslette/Wikimedia Commons

Image Credits: Gabriel Vanslette/Wikimedia Commons

22. Payless

Company CEO: W. Paul Jones

Date of Establishment: 1956

Founders: Louis and Shaol Pozez

Revenue: $3 billion (as of 2017)

Number of Employees: 18,000 (as of 2017)

Reason for closure: The shoe retailer faced debt challenges which eventually led it to declare Chapter 11 bankruptcy protection, close 600 of its stores 2017, and let go of many of its employees.

Image Credits: Ser Amantio di Nicolao/Wikimedia Commons

Image Credits: Ser Amantio di Nicolao/Wikimedia Commons

21. BKH Acquisition Corp

Company CEO: Unknown

Date of Establishment: Unknown

Founder: Unknown

Revenue: Unknown

Number of Employees: Unknown

Reason for closure: The company's financial problems can be attributed to Puerto Rico's continual economic frailty in the existing credit disaster. Olya Naumova, a credit analyst, affirmed this.

Image Credits: Rockhsp/Wikimedia Commons

Image Credits: Rockhsp/Wikimedia Commons

20. Mattress Firm

Company CEO: John Eck

Date of Establishment: July 4, 1986

Founders: Harry Roberts, Paul Stork, and Steven Fendrich

Revenue: $980 million (as of the second quarter of 2017)

Number of Employees: 10,000 (as of 2018)

Reason for closure: The mattress store chain financial struggles is somewhat related to accounting disrepute coupled with what CNBC noted as "an onerous store footprint."

Image Credits: Mattress Firm/Wikimedia Commons

Image Credits: Mattress Firm/Wikimedia Commons

19. National Stores

Company CEO: Michael Fallas

Date of Establishment: 1962

Founder: Joseph Fallas

Revenue: unknown

Number of Employees: Unknown

Reason for closure: Over the years, National Stores has accumulated many brands, thus probably accruing huge debt. It filed for Chapter 11 bankruptcy protection in August 2018.

Image Credits: Google Earth

Image Credits: Google Earth

18. Gump's Holdings

Company CEO: Michael Mosca

Date of Establishment: 1861

Founders: Solomon and Gustav Gump

Revenue: $38.1 million (as of 2014)

Number of Employees: Unknown

Reason for closure: The company noted that an "overwhelmingly difficult retail environment" has made it quite difficult for its business to operate properly. It filed for Chapter 11 bankruptcy in August 2018.

Image Credits: © BrokenSphere/Wikimedia Commons

Image Credits: © BrokenSphere/Wikimedia Commons

17. Brookstone

Company CEO: Steven Goldsmith

Date of Establishment: 1965

Founder: Pierre de Beaumont and wife

Revenue: Unknown

Number of Employees: Unknown

Reason for closure: In August 2018, Brookstone filed for Chapter 11 bankruptcy after experiencing financial challenges. The company plans to shut down al 101 stores in different locations in the US.

Image Credits: John Phelan/Wikimedia Commons

Image Credits: John Phelan/Wikimedia Commons

16. Rockport

Company CEO: Gregg Ribatt

Date of Establishment:1971

Founders: Saul Katz and Bruce R. Katz

Revenue: $100 million (as of 1986)

Number of Employees: Unknown

Reason for closure: Rockport filed for bankruptcy in May 2018. After this, the company was purchased by private-equity group Charlesbank Capital Partners in July 2018.

Image Credits: Dquai/Wikimedia Commons

Image Credits: Dquai/Wikimedia Commons

15. The Walking Company

Company CEO: Andrew D. Feshbach

Date of Establishment: July 1991

Founders: Steve Adler and Jim Argyropoulos

Revenue: Unknown

Number of Employees: Unknown

Reason for closure: The Walking Company, opted for Chapter 11 bankruptcy in March 2018. However, it isn't the first time the company had declared bankruptcy; a decade ago, they were in the same situation due to financial problems.

Image Credits: The Walking Company/Facebook

Image Credits: The Walking Company/Facebook

14. Kiko USA

Company CEO: Cristina Scocchia

Date of Establishment: 1997

Founder: Antonio Percassi

Revenue: Unknown

Number of Employees: Unknown

Reason for closure: Kiko USA is a subsidiary of its mother company Kiko Milano. The company seems to be going strong in other countries, but it is barely surviving in the USA due to financial constraints. In January 2018, the company filed for Chapter 11 bankruptcy.

Image Credits: Kiko Milano/Facebook

Image Credits: Kiko Milano/Facebook

13. A’gaci

Company CEO: John Won

Date of Establishment: 1971

Founder: Unknown

Revenue: Unknown

Number of Employees: Unknown

Reason for closure: Agaci filed for chapter 11 bankruptcy in 2018. Just like other stores, they were dealing with financial challenges and had to be involved in debt restructuring. However, the company was approved to partake in a commitment letter for up to $12 million in June 2018.

Image Credits: Phillip Pessar/Flickr

Image Credits: Phillip Pessar/Flickr

12. Toys R Us

Company CEO: David Brandon

Date of Establishment: April 1948

Founder: Charles Lazarus

Revenue: $11.5 billion (as of 2016)

Number of Employees: 64,000 before liquidation (2017)

Reason for closure: The company was involved in significant debts and experienced poor sales of its product. This eventually made it file for bankruptcy in 2018 and make plans to close all its 735 stores in the US.

Image Credits: Mike Kalasnik/Wikimedia Commons

Image Credits: Mike Kalasnik/Wikimedia Commons

11. Bertucci’s

Company CEO: Stephen V. Clark

Date of Establishment: 1981

Founder: Joseph Crugnale

Revenue: Unknown

Number of Employees: Unknown

Reason for closure: When the Pizza chain filed for bankruptcy in the spring of 2018, they were bought by Earl Enterprises for $20 million. It was noted that the sale deal featured $13 million in debt, $4 million in credit and $3 million in cash.

Image Credits: AlbertHerring/Wikimedia Commons

Image Credits: AlbertHerring/Wikimedia Commons

10. Gymboree

Company CEO: Dan Griesemer

Date of Establishment: February 8, 1976

Founder: Joan Barnes

Revenue: 1.247 billion (Fiscal Year 2016)

Number of Employees: 9,500 (4,300 full-time equivalents)

Reason for closure: The children's clothing retailer, opted for bankruptcy protection in 2019. Children's Place later bought it.

Image Credits: Spencer Platt/GettyImages

Image Credits: Spencer Platt/GettyImages

9. Diesel USA

Company CEO: Unknown

Date of Establishment: 1978

Founders: Adriano Goldschmied, Renzo Rosso

Revenue: Unknown

Number of Employees: Unknown

Reason for closure: According to the bankruptcy court documents, Diesel credited its reducing wholesale orders to “general downturn in the brick-and-mortar retail industry,” among other factors such as expensive rents, diminishing net sales, and some cases of theft and fraud.

Image Credits: Bryan Bedder/GettyImages

Image Credits: Bryan Bedder/GettyImages

8. Imerys Talc America Inc.

Company CEO: Giorgio La Motta

Date of Establishment: 1992

Founder: Unknown

Revenue: Unknown

Number of Employees: Unknown

Reason for closure: The company filed for bankruptcy due to claims from various women about how Imerys Talc powder causes ovarian cancer. Some others also stated that the asbestos used in the powder leads to mesothelioma.

Image Credits: Justin Sullivan/GettyImages

Image Credits: Justin Sullivan/GettyImages

7. Pacific Gas and Electric (PG&E)

Company CEO: Jeff Bleich

Date of Establishment: 1905

Founder: George H. Roe

Revenue: 17.14 billion (as of 2017)

Number of Employees: 23,000 (2017)

Reason for closure: The gas and oil company opted for bankruptcy in January 2019 because of the California Wildfires that took place in 2017 and 2018 respectively.

Image Credits: Grendelkhan/Wikimedia Commons

Image Credits: Grendelkhan/Wikimedia Commons

6. Things Remembered

Company CEO: Nelson Tejada

Date of Establishment: 1967

Founder: Joseph Edmund Cole

Revenue: Unknown

Number of Employees: Unknown

Reason for closure: The company filed for bankruptcy in February 2019. Luckily, in March 2019, the company reached a sales agreement with Enesco. Things Remembered will live on!

Read More: 50 American Companies That Influence The Whole World The Most

Image Credits: Corey Coyle/Wikimedia Commons

Image Credits: Corey Coyle/Wikimedia Commons

5. Innovative Mattress Solutions

Company CEO: Kim Knopf

Date of Establishment: 1983

Founder: Unknown

Revenue: Bankrupt

Number of Employees: Unknown

Reason for closure: The Mattress company filed for Chapter 11 bankruptcy in January 2019 and might close its 142 stores.

Image Credits: Pixabay/Pexels

Image Credits: Pixabay/Pexels

4. Z Gallerie

Company CEO: Graham Maraia

Date of Establishment: 1976

Founder: Joe Zeiden

Revenue: Unknown

Number of Employees: Unknown

Reason for closure: Z Gallerie bankruptcy was as a result of self-imposed troubles. The company felt it should have invested more in e-commerce, and worked hard enough to meet its performance objectives. The home furnishing company filed for Chapter 11 bankruptcy on March 11, 2019.

Image Credits: Philip Ramey Photography, LLC/Corbis Via Getty Images

Image Credits: Philip Ramey Photography, LLC/Corbis Via Getty Images

3. Beauty Brands

Company CEO: Caryn Lerner

Date of Establishment: 1995

Founder: Bob Bernstein

Revenue: Bankrupt

Number of Employees: Unknown

Reason for closure: The superstore declared Chapter 11 bankruptcy on January 4, 2019, and sold some of its assets on the market.

Read More: 50 Jobs That Will Be Replaced By Robots In The Near Future

Image Credits: Beauty Brands/Facebook

Image Credits: Beauty Brands/Facebook

2. Shopko

Company CEO: Russell Steinhorst

Date of Establishment: April 5, 1962

Founder: James Ruben

Revenue: $3.3 billion (Fiscal Year 2018)

Number of Employees: 18,000 (2017)

Reason for closure: The retailer primarily stationed in Wisconsin opted for Chapter 11 bankruptcy on January 16, 2019. The company made plans to close 70 percent of its retail stores between February and May 2019.

Image Credits: Caldorwards4/Wikimedia Commons

Image Credits: Caldorwards4/Wikimedia Commons

1. The Weinstein Company

Company CEO: Bob Weinstein

Date of Establishment: March 10, 2005

Founders: Bob and Harvey Weinstein

Revenue: Unknown

Number of Employees: 150 (as of 2008)

Reason for closure: The film studio started facing troubles when its co-founder, Harvey Weinstein, was accused by over 100 women of sexual harassment and assault. In March 2018, they filed for bankruptcy. By May 2018, they were bought out by Lantern Capital Partners for $310 million.

Image Credits: Wikimedia Commons

Image Credits: Wikimedia Commons

With the advent of new and more advanced business technological tools, and fierce emerging competitors, it is not so surprising that many of these long-term companies are going out of business. Nonetheless, it will be refreshing for us to see them rise again.

However, they must be ready to adapt to changes and fully understand customer behaviors, and wants. What do you think about these companies? Which one of them do you think will most likely survive this severe stage? Let us know what you think in the comments. Share this article with your friends, who have business minds.

Source: Finance 101, Business Insider

Get More Related Articles Here:

  1. 50 Business Ideas That Could Earn Millions And Cost Minimum Money To Launch

  2. 40 Most Dangerous Jobs In The US: Career That Could Cost You Life

  3. 40 Absolutely Useless Jobs To Consider For The Future

  4. 24 Business Ideas To Consider For Successful Future

Related posts
Jun 13, 2019
25 Eye-Opening Photos for People Who Think They’ve Seen Everything
May 30, 2019
22 Famous Parents of Kids With Down Syndrome Change The World
Feb 19, 2019
26 Photos That May Look Entirely Different When Given Another Look
Apr 25, 2019
Most Insane Photos from North America That Prove How Merciless Winter Could Be