These are the companies that might go bankrupt in 2014, the reason they are predicted to go under is due to tough competition from other companies. Why discuss the companies that are listed below? Because many people might want to invest in them, without knowing the truth behind the company’s numbers. The stock might be appealing to some due to the low price, but would you really want to put money into a sinking ship? (No) What really caused these companies to begin spiraling out of control and to ultimately be very close to bankruptcy? From my point of view, I would have to say that one of the reasons is these companies did not change enough under the current market space. Staying stagnant or comfortable is a sure fire way to bury yourself in any business environment.
As I mentioned above competition is a major factor for the possible demise of these companies, but another issue that some of the companies need to address is a revitalized customer service experience coupled with good PR in a fast paced social media environment. Brand building is very hard work, and keeping a brand relevant for years maybe decades is a very complicated undertaking. I am hoping the best for these companies, because you do not want to see a company that you supporting for years go under. The signs say a different story and it will be challenge for them to stay afloat in 2014. Their debt is increasing, the customers are fleeting, management is scrambling, and the media is having a field day talking about their shortcomings. See below for the list.
Companies that might go bankrupt in 2014
Black Berry (2nd year)
Sears (2nd year)
JC Penny (2nd year)
Living Social
Leap Wireless
Road & Track Magazine
Volvo
Barnes & Noble – Nook
WNBA
Olympus
Mitsubishi Motors
The future is looking bleak for these corporations, but yet again they did have a good run with many profitable years behind them. I wonder if they just placed great effort to adapt to changes in their market space if they would still be in the same predicament? If you give value and stay ahead of the competition I think you will always stay relevant in the consumers eyes.
A few of these brands will really hurt many older Americans for example Sears and JC Penny. For me personally if and when it happens I will feel bad for Volvo, Road & Track, WNBA, and Barnes & Noble. The main reasons why is because I am a car fan, basketball fan, and lastly I kind of like having a place where you can go to pick up a good paperback book.
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Comment if you will miss any of the companies that might go bankrupt in 2014?
Rich Uncle EL
I definitely hope Volvo doesn't go bankrupt. I imagine in 20 years, I would love to be able to buy a 20 year old Volvo.
I know right you better start looking for that classic 60-70s Volvo before they are all gone. I personally want a mustang or Chevy chevelle.