Over the years, we’ve lost a lot of companies. It isn’t rare for companies to rise quickly and fall hard, but usually, they’re bailed out in one way or another. Sometimes the company restructures fast enough to recover, while others search for investors.
For example, you probably know someone with an Apple product if you don’t have one yourself. Well, did you know that Apple almost went bankrupt? Microsoft stepped in at the last minute and invested $150 million in the company with the assurance that Jobs would put Microsoft Office products on Macs for five years. That saved Apple and allowed it to become one of the largest tech companies that has ever existed.
Not all companies are that lucky. Some of them have to apply for bankruptcy, and this is a huge hit, but it allows companies to restructure their debt. Unfortunately, that doesn’t mean they can recover from it. In other cases, the government may step in with a bailout. Bailouts usually happen when a business (usually a financial institution) is so big that a bankruptcy would have a huge impact on the United States economy.
At the end of the day, we looked back on the big-name brands that have gone out of business. We honestly didn’t expect it, but after digging for the "why," we aren’t surprised. These are 26 businesses that have gone bankrupt. We went over what happened and how they recovered—if they made it that far.