Atari. Vista Proppants and Logistics, a Texas-based company that provides frac-sand to oil well operators, filed on June 10. , a British company with 44 hotel and travel brands like Shearings, a century-old tour bus operator. “It has been a poorly-kept secret that a number of the big-box retailers were struggling,” says Scott Williams, a bankruptcy attorney at RumbergerKirk. Lucky Brand, a Los Angeles-based fashion designer and retailer specializing in denim, filed on July 3 and announced it is being acquired by Sparc, the parent company of Aeropostale and Nautica. Canadian oilfield services provider Calfrac filed for Chapter 15 on July 14 after its revenue declined by 56% in the first half of 2020. British burger chain Byron entered administration on June 29 and eventually reached a deal to be acquired by Calverton UK while closing 31 of its 51 locations and laying off 651 employees, according to Reuters. filed on April 18 as the company revealed it had $800 million in previously undisclosed losses. Car rental company Hertz filed on May 22 with nearly $18 billion in net debt on its balance sheet and coronavirus crushing business travel and tourism. Business at all of them has been upended by coronavirus shutdowns. Not all products on this list were total failures, however. SHARE . Industrial battery maker Exide Technologies, based in Georgia with more than 8,000 employees in 80 countries, filed on May 22 and agreed to sell its businesses in Europe and Asia. Discount retailer Stage Stores, which owns brands like Gordmans and Bealls, filed on May 10 and will begin to liquidate its inventory when 557 of its stores reopen from coronavirus shutdowns on May 15. Retail companies have so far confirmed at least 8,300 stores slated for closure in 2020, according to a Business Insider analysis. Of 101 companies surveyed by CB Insights, 13% failed because they simply lost focus, while 7% failed to make the necessary changes. , a movie theater chain that also owns dine-in restaurants and bars. Pier 1, a home furniture chain with close to 1,000 locations at the beginning of the store, began a Chapter 11 reorganization on February 17, before the weight of the pandemic even reached the U.S. Shares were trading at more than $460 in 2013 before beginning a steep and steady decline. Business at all of them has been upended by coronavirus shutdowns. as sales plunged at its physical locations while customers stayed home due to the pandemic. to reduce its debt by more than $400 million. Casual Dining Group, the London-based parent company of British chains Cafe Rouge and Bella Italia, entered administration on July 2 and announced it was permanently closing 91 of its 250 locations, leaving 1,900 employees without a job. Only 70 employees remained to wind down the business. The company failed to adapt to changes, their service isn’t as popular as it used to be. More are on the way. In the midst of the holiday season, this comes as welcome news for corporations looking to profit off the largest consumer-driven economy in the world. , based in Georgia with more than 8,000 employees in 80 countries. RavnAir, an intrastate airline in Alaska, ceased operations and laid off all staff when it filed for bankruptcy on April 5. Cirque du Soleil, based in Montreal and famed for its circus acts on the Las Vegas Strip, filed on June 29 and announced it was laying off 3,480 workers after the pandemic forced it to stop performing. Delta, United UAL -6% and American Airlines AAL +9.3% have all endured bankruptcy reorganizations in the last two decades. You may opt-out by, The coronavirus pandemic has accelerated the demise of companies that were already in trouble as Americans (and their dollars) stay home amid lockdowns and economic shutdowns. The company did not offer a cash-on-delivery service, which Finance Elements asserts would have made a significant difference in how it was received. with all of its passenger flights grounded since mid-March due to Covid-19. Fig & Olive, an upscale Mediterranean restaurant chain with nine locations, filed on July 3 as it grapples with litigation related to a salmonella outbreak compounded by this spring’s Covid-19 closures. New Zealand furniture and appliance retailer. Its 38 locations have been closed since March. QUAD Petersen-Dean, which installs roofs and solar panels in nine states in the Southwestern U.S., filed on June 11. Here are the major companies with … Mood Media, which provides hold music on calls and background music in stores to retailers, filed on July 30 to erase $404 million of debt. Texas-based oil driller Denbury Resources filed on July 30 to eliminate $2.1 billion in debt, a week after a bizarre episode that saw its stock jump on July 20 due to a fraudulent press release that said the company would be acquired for $1.20 per share. and announced it was selling its five operating companies. The company expects to open seven stores on 15 June 2020 (when non-essential stores are allowed to start trading) with the remaining 10 stores to open at a later date. , which served more than 30 million passengers last year as one of Latin America’s largest airlines. 32. According to the University of Michigan’s Index of Consumer Sentiment, Americans appear more comfortable with their finances — and more willing to spend money — than they were at the same time last year. I was previously an assistant editor covering money and markets for Forbes. PTTOW! (CBInsights) for the second time in the last year as it struggled to stay afloat with its stores closed. FTR and announced that it will permanently close more than 100 of its roughly 400 gyms, citing the “disproportionate impact” of the coronavirus pandemic on the fitness industry. Statistics show that 29 percent of new businesses reportedly failed because of lack of finance. , which operates a fleet of offshore oil supply ships in the Gulf of Mexico and Latin America. Only 70 employees remained to wind down the business. and announced plans to be sold to restaurant conglomerate Aurify Brands, which will keep 35 of its 98 bakeries in the U.S. open. , based in Montreal and famed for its circus acts on the Las Vegas Strip. , ending 163 years of family control of the business and signaling the continuing erosion of local news. Source: pedrosz / Flickr 5. It aims to reduce its debt by $700 million and continue normal operations. For example, the two pieces of computer software on this list were once tremendous successes and have simply been replaced by newer software. The next most likely reason that new businesses fail is because they run out of cash. Intelsat filed on May 13, though it said it will continue to launch new satellites. but planned to keep its restaurants open. Illinois-based pharmaceutical company Akorn filed on May 20, two years after Fresenius backed out of a planned $4.3 billion takeover over quality control concerns. on July 14 after its revenue declined by 56% in the first half of 2020. and warned that it may close unprofitable locations. CSGP and American Airlines This list is by no means an exhaustive list of brands and products that will disappear in 2020, but they are a selection of some of the most notable departures. and announced it was being bought and taken private by Deerfield Partners. It was operating a fleet of Embraer E175s for Delta. UAL Clothing conglomerate Nygard Entities filed for Chapter 15 on March 19. TWEET. The brands on this list include vehicles, computer software, a retailer, television programs, and a media company. . In other cases, production is slated to end in 2020. U.K.-based Italian restaurant chain Carluccio’s entered administration on March 30, shortly after its 73 locations were required to close. , Aldrich Pump LLC and Murray Boiler LLC. With more than 24,000 stores in 70 countries, Starbucks is no stranger to international business. The prominent department store chain has lost money for nine straight years, and its troubles were exacerbated by the pandemic that forced its 850 remaining locations to close. Twitter via @SkullyLowe. Restaurant franchisor CraftWorks filed on March 3 to reduce its debt by more than $140 million shortly after closing about 10% of its locations. to eliminate $2.1 billion in debt, a week after a bizarre episode that saw its stock jump on July 20 due to a fraudulent press release that said the company would be acquired for $1.20 per share. Stores and factories worldwide are running out of money as the COVID-19 pandemic forces them to ... [+] close. Another US regional feeder, and one owned by the same holding company as Trans States Airlines (mentioned earlier in this list). Bank, filed on August 2, weeks after it announced it was laying off 20% of its corporate workforce and closing up to 500 stores. Mexican energy company Libre Abordo announced it was bankrupt on May 31 after oil prices collapsed this spring. It reopened its 14 locations in Quebec and Ontario in May after weeks of coronavirus-related closures. Chuck E. Cheese’s parent company, CEC Entertainment, filed on June 24. I, I'm a reporter on Forbes' wealth team keeping tabs on billionaires and their money. Houston-based Hi-Crush, which offers frac sand production and logistics services for fracking operations, filed on July 13 to reduce its debt load by $450 million. The Paper Store, which sells stationary and small gifts and accessories at 86 locations in the northeastern United States, filed on July 14 and expects to sell its assets. Ymagis, a French company specializing in digital technologies in movies, filed for Chapter 15 in New York on July 27. The company was under fire after a class-action lawsuit filed in February levied sex-trafficking allegations against founder Peter Nygard. on February 17, before the weight of the pandemic even reached the U.S. Shares were trading at more than $460 in 2013 before beginning a steep and steady decline. on March 19. Despite a recent uptick in gun sales, Remington has faced years of litigation after making the rifle used by the gunman in the tragic 2012 Sandy Hook Elementary School shooting, and victims’ families worry that the bankruptcy filing may jeopardize their lawsuit. Some of the biggest names in corporate America are in danger of going the way of Sears, Blockbuster and RadioShack. —equivalent to more than $100 million—due to coronavirus. . Grupo Famsa, a retailer with about 400 stores primarily in Mexico, filed on June 26 but expects to continue normal operations. In our fast-paced communities, big companies fail every day. for its specialty generics unit on February 25 and offered to pay a $1.6 billion settlement under the weight of lawsuits related to opioid abuse. Look at the 25 biggest product flops of the spring keeping tabs on and. To designer brands like Calvin Klein and Tommy Hilfiger, filed on July 8 and it... 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