The financial news outlet 24/7 Wall St. recently released a list of brands that it believes will likely not survive the New Year. While it's easy to dismiss this list as being purely speculative, consider that 24/7 Wall St. does have a strong track record of accurate predictions.
For example, the news outlet successfully predicted that MetroPCS, American Suzuki and Current TV would undergo major transitions in 2012. Here, MetroPCS was purchased by Sprint, American Suzuki filed for bankruptcy, and Current TV indicated that it would either be purchased or go under.
After examining various metrics such as sales, relevance in today's marketplace, customer base and general financial health, 24/7 Wall St. predicted the following brands will probably not survive 2013.
JC Penney
The 110-year-old department store underwent a major overhaul in 2012, replacing coupons and sales with consistently low prices. Thus far, the results have been less than encouraging as store sales have fallen over 20 percent and internet sales over 33 percent.
Mitsubishi Motors of North America
The relatively small car company saw sales fall 29 percent and currently owns just a .4 percent market share of the automobile industry. 24/7 Wall St. experts say the company is simply unable to keep up with major competitors like Ford, which owns a whopping 16 percent market share.
Research in Motion
Not long ago, Research in Motion, makers of the BlackBerry, was at the top of the smartphone chain. However, 24/7 Wall St. experts argue that Rim's failure to adapt its technology has resulted in staggering losses and financial peril.
American Airlines
American Airlines was one of the largest carriers in the U.S. for nearly three decades. However, the recent mega-mergers of Delta/Northwest and Continental/United greatly reduced its sphere of influence. 24/7 Wall St. experts point to the fact that the parent company filed for bankruptcy back in 2011 as a sign of things to come.
Some of the other brands that 24/7 Wall St. predicts will disappear sooner than later include Avon, Martha Stewart Living Omnimedia, Pacific Sunwear, and Talbots.
The reality is that whenever a corporation is forced to shut its doors, people lose their jobs and financial hardship can soon result. Fortunately, if you are experiencing financial difficulties brought on by situations beyond your control -- including divorce, prolonged illness, or unemployment -- Chapter 7 bankruptcy can provide a much-needed lifeline.
If you would like to learn more about Chapter 7 bankruptcy or Chapter 13 bankruptcy, take the time to speak with an experienced legal or financial professional.
The following post is for informational purposes only and is not to be construed as legal advice.
Source:
Yahoo! Finance, "Brands that will likely disappear in 2013," Farnoosh Torabi, Dec. 27, 2012
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