Friday, January 16, 2009

2008 Retail Bankruptcies: Some Familiar Names Go Away

2008 was a very bad year for retailers and business in general, and some big companies went under, including some that filed for Chapter 11 bankruptcy the week after Christmas.

The 2008 list:

  • Circuit City
  • Boscov's
  • Sharper Image
  • Mervyns
  • Linens 'n Things
  • Whitehall Jewelers
  • Steve & Barry's
  • Bennigan's
  • Tribune Company
  • Tweeter Opco
  • Shoe Pavilion
  • Waterford Wedgwood
  • Advantage Rent-a-Car
  • Bally's Sports Club
  • Pilgrim Pride
  • Aloha Airlines
  • DayJet
  • SkyBus
  • ATA Airlines
  • Mrs. Fields Famous Brands LLC
  • Progressive Auto Parts
  • Goody's
  • Ziff Davis
  • Buffets Holdings (Old Country Buffet, Ryan's Grill Buffet and HomeTown Buffet)
  • KB Toys
  • Polaroid
  • Arena Football League
  • Olsson's Books and Records
This list does not even touch the bank situation.


You will not see the following things in 2009 as their companies have cut them:

  • Polaroid Traditional Instant Film (discontinued before Polaroid filed for bankruptcy)
  • Zima (popular clear malt) (Coors Brewing Co.)
  • CD sales at Starbucks
  • FedEx Kinko's is dropping the Kinko's name and renaming itself FedEx Office.
  • Diet Cherry Chocolate Dr. Pepper (Dr. Pepper Snapple Group) (YUCK!!)
  • Volcano Taco (Taco Bell) (Company says the popular taco was a limited-run menu item)
  • Crown Pilot Crackers (Nabisco)
  • Smoky Chipotle Crispy Fried Chicken (Kentucky Fried Chicken)
  • DHL Shipping in the United States (DHL) (They're going back to Europe)
  • Hundreds of other changes as businesses try to save themselves.

Companies in Danger--2009

The following list of companies is listed as being in grave danger of disappearing in 2009, according to AOL Money & Finance's web site:

  • Chrysler (Despite the government bailout)
  • XM Sirius
  • AIG (Despite the government bailout)
  • Fannie Mae and Freddie Mac (They may be folded into one government agency)
  • Rite-Aid
  • New York Times (has to pay off a $400 million debt in the first few months of 2009)
  • Nortel (already filed for bankruptcy)
  • Pier 1 Imports
  • Charter Communications ($20 billion in debt, stock was trading at $.12 a share today, expenses>income, just missed a $74 million payment)

2008 was a very rough year, and 2009 isn't looking too healthy right now either.

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