50 Brands on the Brink of Declaring Bankruptcy

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Lowe’s is embroiled in a battle against Home Depot to stay away from bankruptcy. In an attempt to compete, the company purchased Orchard Supply Hardware. Immediately afterward, they were forced to lay off 4,000 employees and close 98 stores. The problem is that this acquisition cost much more than expected, which will require Lowe’s to make some major changes to stay away from bankruptcy.  

Lowe’s

Despite these challenges, Lowe's has reported strong financial results in recent quarters. In the second quarter of 2021, the company reported net sales of $27.6 billion, an increase of 1.0% compared to the same period in 2020. The company also reported a net income of $3.0 billion, an increase of 0.8% compared to the same period in 2020.

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Did you know...

  • The most expensive hotel room in the world (the Royal Penthouse Suite at the Hotel President Wilson in Geneva, Switzerland) costs $83,200 a night. That's $58 per minute for a stay! Good thing it has 12 bedrooms, 12 baths, a wraparound terrace, a Steinway piano, and an assigned private staff (including a chef)!
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  • It's an understatement to say that the odds when playing the lottery are not in your favor. You are statistically three times more likely to die in a car accident while driving 10 miles to buy a lottery ticket than you are to actually win. Even more astounding, over half the tickets in an average lottery draw are bought by only 5% of the participants.
  • Paper money is actually pretty heavy. One pound would be worth $454 in $1 bills. That means $1 million comprised solely of $100 bills would weigh over 20 pounds. Those suitcases filled with money in movies must be hefty to lug around all that paper money. If you plan on robbing a bank, you better bulk up!
  • There are over 1.6 million automated teller machines around the world. And that really does mean the entire world. There are even two ATMs on Antarctica at McMurdo Station operated by Wells Fargo. Friday is the most popular day that ATMs are used worldwide, and the average withdrawal is around $80.