50 Brands on the Brink of Declaring Bankruptcy

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Foot Locker has revealed plans to eliminate 400 North American stores by 2026, with an emphasis on eliminating underperforming mall locations and enhancing standalone stores with innovative concepts. The company's "Lace Up" initiative, centered on sneakers, underscores its commitment to attracting new consumers with a specialized focus.

Foot Locker

Despite the cutbacks, Foot Locker marked its 50th anniversary in 2023 by opening 280 community-centric, power store, and house of play concept stores. The strategy calls for the closure of 125 Champ Sports locations by 2023, with the brand focusing more on active sports and fitness aficionados. Foot Locker's global real estate footprint is expected to drop by 10% by 2026, leaving the company with 2,400 locations.

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Did you know...

  • Have you ever wondered who prints the most money? That would be Hasbro, as in the makers of Monopoly. Hasbro prints more Monopoly money in a given year than there is money in the entire world. Each set of the game comes with $20,580. Bet you didn’t know you had that much money lying around the house!
  • 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.
  • When it comes to counterfeiters, North Korea are pros. They have gotten so good at counterfeiting American currency (particularly the $50 and $100 bills) they their fakes are known as "superdollars." They require specialized Federal Reserve equipment to be identified. There are $45 million worth of North Korean fakes…that we know of.
  • Want a money saving tip? Ditch credit and debit cards, and stick to carrying around cash. Studies show people spend between 12 – 18% more when using a plastic card as opposed to when paying for things in cash. If you physically have to dole it out, you’re much more aware that you are spending your hard-earned money!
  • 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!