Managing a business is never easy, and 2020 has been even more difficult, which has presented commercial homeowners with an unprecedented set of circumstances: the COVID-19 pandemic, the major shocks in the US economy. U. S. , with an unemployment rate reaching 14. 7% in April. at 6. 7% in November, it remains more than 3 percentage points higher than before the pandemic escalation.
With this economic crisis, many struggling corporations have been forced to apply for bankruptcy coverage or stop their operations altogether. These corporations will register for a list of brands that were once important that, by one explanation or another (long before the pandemic), have lost profitability and have closed their doors for more than 10 years.
For which brands disappeared between 2011 and 2020, Wall Street reviewed 24 hours a day, 7 days a week, press releases, monetary records, and other data resources to identify giant corporations that have absolutely ceased operations or ceased their operations to the fullest.
Minimum wage: Wage scale is expected to increase in 20 states, 32 locations, while developing numbers exceed $15 per hour
Product withdrawal: Target 480,000 mamelucos, baby swimsuits in case of choking or pinching
Many corporations on this list have not adapted to the forces of the conversion market and, as a result, have lost profits. Successful retailers have noticed their online shopping and sales even before the pandemic requires social estating.
Although virtually all companies faced pandemic challenges, few sectors struggled more to cross 2020 than places to eat. With restrictions on catering problems inside and in the chain of origin, in addition to having to close temporarily due to local fitness measures, more than 100,000 places to eat have closed According to the National Restaurant Association, those closures will have effects in approximately one in six places to eat in the country. Those affected come with world-class places to eat across the country. These are the saddest food closures of 2020.
1. Vine
Founded on: 2012
Type of activity: Media
Vine was a short-lived but popular video creation app that carried the Internet through the typhoon in the early 2010. La app allows users to create six-second videos in a loop, with a funny effect. Vine was purchased via Twitter in 2012 for $30 million so users can film and percentage videos seamlessly on the social media platform. Many other social media platforms have begun to provide vine-like video installations, especially Instagram, which has also given creators a longer time restriction for videos. The number of Vine users has declined and Twitter closed the app in 2016.
2. Dock Imports 1
Founded in: 1962
• Business type: goods
Unlike many other corporations that closed in 2020, Pier 1 Imports was already on the brink of extinction long before the COVID-19 pandemic. The home goods store filed for bankruptcy in February after nine consecutive quarters of declining sales. A few months later, Pier 1, stop all activity and liquidate your assets.
3. Borders
Founded in: 1971
Type of activity: retail, books
As Amazon expanded far beyond its original purpose of promoting e-books on the Internet, physical e-book distributors like Borders struggled to keep up. While Borders’ competitor, Barnes and Noble, presented his own e-book reader, Borders did not adapt to adjustments to visitors’ personal tastes. and filed for bankruptcy in 2011. La company had a debt of approximately $1. 3 billion, which exceeds the total price of its assets.
4. The Weinstein Society
Founded in: 2005
Type of activity: Entertainment
After founding Miramax Films, Harvey Weinstein and his brother Bob founded The Weinstein Company in 2005. In 2017, The New York Times and The New Yorker mag published stories of many women accusing Weinstein of rape, sexual harassment and unseeded professionalism. As a result of the revelations, the company carrying Weinstein’s call was in a public relations crisis. After a failed sale attempt, Weinstein filed for bankruptcy in early 2018. Lantern Capital yet won a bidding war for the company’s assets.
5. Ringling Bros. and Barnum
Founded in: 1884
Type of activity: Entertainment
For nearly 150 years, Ringling Bros. et Barnum
Animal rights activists have continually targeted the circus for the use of creatures such as elephants in the exhibit. The CEO of Feld Entertainment also noted that audiences appeared to be leaving the circus due to relief in their attention span and the expansion of entertainment options. The main charge of moving the screen from one city to another ultimately made the entrepreneurial style untenable. The circus act was last featured in 2017.
6. Sports Authority
Founded in: 1987
Type of activity: retail, sports
In 2005, Sports Authority generated sales of $2. 5 billion at nearly 400 retail outlets. The following year, the Colorado-based sporting goods store became a personal company after being acquired through a personal equity firm. he faced a fierce festival not only of online stores, but also of similar corporations such as Dicks Sporting Good. In March 2016, the company filed an application for Chapter 11 bankruptcy coverage. Later that year, Sports Authority’s intellectual assets were sold at an auction for $15 million to former competitor Dick’s Sporting Goods.
Seventh Theranos
Founded in: 2003
Business type: care
Theranos once seemed to be about to revolutionize the health industry, but the total operation turned out to be a sham. Executive Director Elizabeth Holmes said her company was creating a device capable of diagnosing a wide variety of diseases by analyzing a few drops of blood from a promising this concept earned Theranos a $9 billion rating. It was later revealed that Theranos was only testing the popular blood test devices of its customers from other companies. Holmes now faces up to 20 years in prison on nine counts of electronic fraud and two counts of conspiracy to defraud investors, doctors and patients. The company was dissolved in 2018.
Eighth Gawker
Founded in: 2003
Type of activity: Media
Gawker was an incredibly popular gossip blog that spawned a media empire, adding specialized sites like Jezebel, io9, Deadspin and Kotaku. It was also one of the most debatable sites on the Internet, publishing revealing articles, calling gay public figures, adding technological billionaire Peter Thiel. Thiel eventually funded a privacy complaint filed through professional wrestler Hulk Hogan after Gawker posted a Hogan sex video without the permission of his spouse or spouse. Hogan, whose genuine call is Terry Bollea, won a $140 million trial in 2016, which was settled for $31 million, Gawker filed for bankruptcy and the company was auctioned.
Univision acquired all logos under the auspices of Gawker Media, but closed Gawker. com because the logo may have been the subject of additional lawsuits. Gawker. com bought through Bustle and planned to restart in 2019, but after a series of disagreements between staff and management, the relaunch was postponed and staff were fired.
Ninth Solyndra
Founded in: 2005
Type of activity: Tech, solar panels
Silicon Valley’s favorite solar panel production company Solyndra raised about $1 billion in a venture capital budget and secured a $535 million loan through a U. S. Department of Energy’s Green Energy initiative. But it’s not the first time When the company ceased operations in 2011, it has become the ultimate well-funded failure in the history of US venture capital. But it’s not the first time Although it had a turnover of $140 million, the invoicing of less expensive solar panels bankrupt Solyndra in 2011.
10. Dressbarn
Founded in: 1962
Type of activity: retail, tailoring
Dressbarn, one of many corporations that suffered from the decline of the U. S. mall, a must-see at many primary grocery malls and grocery shopping malls, Dressbarn featured professional women’s clothing in many locations across the country. In 2019, the company announced that it would close all of its approximately 650 retail outlets across the country. Dressbarn’s leading monetary director said the company “does not operate at an appropriate point of profitability in the existing retail environment. “
11. Supermarket A
Founded in: 1859
Business type: grocery store
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12′ MoviePass
Founded on: 2011
Type of activity: Entertainment
MoviePass allowed users to pay a monthly fee to watch as many videos as they wanted in theaters. According to MoviePass co-founder Stacy Spikes, its $9. 95 is worth too low value for the business model, which was designed to generate profits from the knowledge you can gain from your customers. Spikes said parent company Helios and Matheson Analytics had gained so many users after reducing the value they refused to increase it.
While users watched videos worth millions of dollars each month at the company’s expense, the style has become unsustainable and Helios and Matheson wasted money. Finally, in September 2019, MoviePass was no longer consistent with phrases. At one point in 2018, Helios and Matheson’s inventory valued more than $2,000 according to the stake, but now it’s worth less than a penny.
Modell 13
Founded in: 1889
Type of activity: sporting goods
Modell’s was a gigantic chain of sporting goods operating in the northeast of the country. After making plans to close only 24 of its outlets, the company filed for bankruptcy in February, before the pandemic, and announced its goal of closing All Points of Sale. Modell executives blamed the festival for major outlets and Amazon, as well as the warmer winters that reduced jacket sales for hurting sales and, in the end, closing outlets.
14 Teavana
Founded in: 1997
Type of activity: retail, tea
Starbucks is the country’s leading coffee seller, and in 2012 the company moved to tea by obtaining Teavana for around $620 million. Many Teavana retail outlets were located in grocery shopping centers, which have noticed a significant drop in pedestrian traffic in recent years. Starbucks in 2017 to close all nearly 400 Teavana locations.
15th Toys R Us
Founded in: 1957
Type of activity: retail, toys
Toys R Us, once a corporate giant, controlled a quarter of the global toy market with approximately 1,500 outlets in the 1990s. Corporation fortunes have replaced in the 21st century. Several personal equity companies combined to take Toys R Us as staff in a $6. 6 billion debt purchase agreement in 2005. The company registered for an initial public offering in 2010, but withdrew its application in 2013 because sales declined. In 2017, Toys R Us filed for bankruptcy with a debt of five billion dollars. Next year, the company announced plans to close all of its remaining 800 retail outlets.
16th High Motors
Founded in: 2010
Type of activity: vehicles, motorbikes
Even when electric cars like Tesla took off, one of the main players in electric motorcycles closed in 2018. Alta Motors had expanded to more than 70 dealerships in 2018, but failed to achieve a forged monetary base, even though sales increased by 50%. in 2018 and critics and journalists seemed inspired by the product. A possible partnership with Harley-Davidson has reportedly failed and the company ceased operations in 2018.
Seventeenth virtue
Founded in: 1998
Type of activity: technology, phones
Vertu was founded in 1998 through Nokia as a manufacturer of high-end luxury phones. Vertu phones were covered with jewelry and other valuable metals, costing more than $10,000, even for maximum fundamental models. Nokia sold it in 2012 to a Swedish personal justice organization that paid more than $200 million for Vertu in 2012, the phones were difficult to sell, partly due to the maximum price, but also because the generation itself was inferior to other phones on the market. , recording losses of more than $60 million in 2014. Vertu was sold to a Hong Kong-based fund in 2015 and then to an exiled Turkish businessman in 2017. That year, it was revealed that the company had a debt of more than $130 million and was liquidated.
18th American Apparel
Founded in: 1989
Type of activity: retail, tailoring
Once it was a staple of grocery shopping, there are no more American Apparel physical locations in any of the US malls. But it’s not the first time At its peak, the company was valued at more than $1 billion and in the past had generated sales of more than $600 million. The company filed for bankruptcy in 2015 after not having made a profit for six years. The clothing store would go bankrupt just over a year later. American Apparel fired workers and overstelled their lopass and gadgets by just $88 million. an online-only store.
XIX Compaq
Founded in: 1982
Type of activity: technology, IT
Compaq was once one of the leading IT corporations in the United States and the world at large. After its inception in 1982, the company had grown and by 1994 controlled more than 10% of the global IT market. At its peak in 2000, Compaq was worth $40 billion. However, competition like Dell was able to absorb much of Compaq’s market share by directly promoting consumers and allowing customization, while Compaq had distribution agreements with stores such as Best Buy and Circuit City. In 2002, Compaq was acquired through HP for $24 billion in a debatable and debatable merger. HP got rid of Compaq’s call in 2013.
20. Luby
Founded in: 1947
Type of activity: Restaurant
Like many other places to eat, Luby’s Cafeteria has battled the COVID-19 pandemic and the place to eat was not suitable for him: his cafeteria-style service made social estating more complicated and the restaurant chain had already had monetary problems for years. The company announced in September 2020 that all luby’s Cafeteria locations would close and its parent company, Luby’s Inc. , announced in December that it would sell all Fuddruckers sites to a franchisee before completely dissolving the company.
21. Galet
Founded on: 2012
Type of activity: technology, wearables
The pebble tech start-up seemed ready to succeed after raising more than $10 million on Kickstarter, then the maximum of an all-time success crusade, to fund its first smartwatch company. While Apple was still focusing on iPhones and iPods, Pebble’s crusade showed that other people would be interested in portable technologies. Once Pebble watches hit the market, sales were falsified and reviews were positive.
In 2015, Pebble was valued at $740 million, but would go bankrupt the following year when Apple released its own smartwatch. Pebble was dealing with source chain issues, while Apple watches were gaining a market percentage in smartwatches. sold to FitBit for less than $40 million.
22. Jaw
Founded in: 1999
Type of activity: technology, wearables
Jawbone is a classic case of a Silicon Valley-exclusive phenomenon: “death from overfunding. “The portable device generation company, known for manufacturing Bluetooth headphones and speakers, once valued billions of dollars, but only for all the capital it raised and not necessarily because the company raised approximately $900 million in financing, bringing its maximum valuation to $3. 2 billion in 2014.
In 2017, Jawbone faced legal action by the sellers, who said the company owed them money and the company went into liquidation. According to Reuters, another new venture capital-backed company, solar panel manufacturer Solyndra, raised more capital than Jawbone and also closed.
23 palm
Founded in: 1992
Type of activity: technology, telephones
Long before smartphones, PODs (non-public virtual assistants) were a must-have device. The company that manufactured them, Palm, temporarily gained value. In 1998, Palm had more than two-thirds of the global PDA market. A massively successful IPO in 2000 when it broke away from parent company 3Com and, like many technology corporations of that era, Palm was navigating the Internet bubble about to burst. At its peak in 2000, Palm’s valuation exceeded $53 billion, competitors like Sony began to devour the PDA market and, once the technological bubble burst, Palm’s percentage value collapsed. announced in 2011 that it would stop manufacturing Palm hardware and withdrew the brand.
24. Henri Bendel
Founded in: 1895
Type of activity: Retail, luxury
Once an iconic branch, Henri Bendel closed all remaining locations in 2019, in 2018, the logo suffered a loss of $45 million. Many physical operations have struggled to compete with online shopping, while industry analysts say consumers spend less on luxury goods in favor of other purchases such as phones and other technologies.
25th Blockbuster
Founded in: 1985
Type of activity: retail, entertainment
Even before the advent and development of the popularity of the broadcast such as Netflix, Hulu and Amazon Prime, Blockbuster was struggling. The once ubiquitous video rental store has been in decline since 2004, when it had 9,000 outlets worldwide. Bend, Oregon. La resolution to leave the online service helped convict the company, which filed for bankruptcy in 2010.
26. Lord and Taylor
Founded in: 1826
Business type: store
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