BANKRUPT
22 companies
24 Hour Fitness (Bankruptcy)
Fitness
24 Hour Fitness' 2020 bankruptcy demonstrates how gym economics depend on non-attendance. The fitness chain's business model required members to pay b...
Aeromexico (Bankruptcy)
Aviation
Aeromexico's 2020 bankruptcy completed the Latin American aviation trifecta of COVID casualties. Mexico's flag carrier filed alongside Avianca and LAT...
Avianca (Bankruptcy)
Aviation
Avianca's 2020 bankruptcy demonstrates how Latin American airlines face dual vulnerability—currency exposure and travel dependency. Colombia's 100-yea...
Brooks Brothers (Bankruptcy)
Apparel Retail
Brooks Brothers' 2020 bankruptcy after 202 years demonstrates how even the most established brands can become irrelevant. The clothier that dressed pr...
CEC Entertainment (Chuck E. Cheese)
Entertainment
Chuck E. Cheese's 2020 bankruptcy demonstrates how entertainment-dining hybrids faced COVID's existential threat. The pizza-and-games concept couldn't...
Cineworld (Bankruptcy)
Entertainment
Cineworld's 2022 bankruptcy demonstrates how theater chains face streaming disruption accelerated by COVID. The world's second-largest cinema operator...
Dean Foods
Food & Beverage
Dean Foods' 2019 bankruptcy demonstrates how dairy industry consolidation couldn't save companies from milk consumption decline. America's largest mil...
Forever 21 (Bankruptcy)
Apparel Retail
Forever 21's 2019 bankruptcy demonstrates how fast fashion faces its own disruption from ultra-fast fashion. The retailer that disrupted department st...
Frontier Communications (Bankruptcy)
Telecommunications
Frontier's 2020 bankruptcy after acquiring Verizon's landlines demonstrates how legacy telecom assets can be poisoned pills. The rural carrier bought...
Gold's Gym (Bankruptcy)
Fitness
Gold's Gym's 2020 bankruptcy demonstrates how iconic brands can't survive format disruption. The gym brand that defined bodybuilding culture faced com...
Guitar Center (Bankruptcy)
Music Retail
Guitar Center's 2020 bankruptcy demonstrates how private equity debt can crush even category-dominant retailers. The music instrument giant controlled...
Hertz (Bankruptcy)
Car Rental
Hertz's 2020 bankruptcy demonstrates how travel-dependent businesses faced existential crisis during COVID. The rental car giant's fleet became deprec...
J. Crew (Bankruptcy)
Apparel Retail
J. Crew's 2020 bankruptcy demonstrates how preppy fashion faces demographic obsolescence. The brand that defined 90s professional casual watched its c...
Neiman Marcus (Bankruptcy)
Department Store
Neiman Marcus's 2020 bankruptcy demonstrates how luxury department stores face dual pressure from online luxury and off-price retail. The chain servin...
NPC International (Bankruptcy)
Restaurant
NPC International's 2020 bankruptcy demonstrates how franchise operators face unique leverage risks. The largest Pizza Hut and Wendy's franchisee coul...
Paper Source
Specialty Retail
Paper Source's 2021 bankruptcy demonstrates how specialty retail faces digital obsolescence. The stationery retailer selling paper products, cards, an...
Philippine Airlines (Bankruptcy)
Aviation
Philippine Airlines' 2021 Chapter 11 demonstrates how Asian flag carriers faced COVID-accelerated decline. Asia's oldest airline operating since 1941...
Revlon (Bankruptcy)
Consumer Goods
Revlon's 2022 bankruptcy demonstrates how legacy beauty brands face disruption from DTC and influencer brands. The 90-year-old cosmetics giant couldn'...
Rite Aid (Bankruptcy)
Retail
Rite Aid's 2023 bankruptcy demonstrates how pharmacy retail's third player faces elimination. The chain couldn't match CVS or Walgreens scale for PBM...
Sears Holdings
Retail
Sears Holdings' 2018 bankruptcy combined two declining retailers (Sears+Kmart) and demonstrates how mergers of weakness don't create strength. Eddie L...
Thai Airways (Bankruptcy)
Aviation
Thai Airways' 2020 bankruptcy demonstrates how state airlines face political constraints that prevent restructuring until crisis forces it. The flag c...
WeWork (Crisis)
Real Estate
WeWork's 2019 failed IPO at $47 billion valuation followed by 2023 bankruptcy demonstrates how real estate arbitrage dressed as tech can collapse spec...