With tomorrow marking the first day of 2013, some wonder what the next year will look like in terms of bankruptcies among brands. Who will make it and who will not are some of the common questions consumers have going into the new year.
According to 24/7 Wall St, which is a financial news site, there are quite a few brands that are just barreling holding on and will most likely disappear in 2013. This may lead to some filing for bankruptcy.
One of those is American Airlines. The parent company has already filed for bankruptcy and there have been rumors circulating regarding a buyout. If this ends up being the case, this could mean a lot of American Airlines employees would find themselves also out of jobs.
Martha Stewart Living Omnimedia is also in real trouble as advertising revenue for the magazine, Martha Stewart Living, is reportedly down 30 percent. When looking at what happened, sources point to the fact that Stewart herself tarnished her reputation by going to jail for insider trading. This, coupled with a decline in print sales of all types, could ultimately lead to the end for the magazine.
When looking at this list, no one can say for sure that these brands will disappear. However, 24/7 Wall Street did make predictions in terms of closures for 2012, some of which were spot on.
The news site makes these predictions based on a number of factors, including relevance in the market, what the customer base looks like and how the company is doing overall from a financial standpoint.
Source: Yahoo, "6 Brands That Will Likely Disappear in 2013," Farnoosh Torabi, Dec. 24, 2012