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2024 was not a kind year for many well-known companies across several industries. From consumer brands, to restaurants and retail stores chains, several companies filed for Chapter 11 bankruptcy.
While filing for bankruptcy means a company is definitely in some dire straits, it doesn’t necessarily mean it will be gone for good. Here are 20 companies that filed for bankruptcy in 2024:
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20 Popular Brands That Filed for Bankruptcy in 2024 was originally published on 93qcountry.com
1. 99 Cents Only
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The Comapny closed all 300-plus locations in April. Dollar Tree acquired the rights for 171 leases former 99 Cents Only Stores.
2. Audacy
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Filing for bankruptcy in January of 2024, Audacy reemerged from bankruptcy in September as a privately-owned company.
3. Big Lots
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Big Lots filed for bankruptcy in September, initially planning to close around 545 locations by the end of January. The company’s attempt to sell itself to a private equity firm fell through in December, but just this week it was saved by Gordon Brother Retail Partners LLC. The agreement disperses all remains stores to several other brands, with 200 to 400 stores remaining as Big Lots.
4. Bowflex
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The at-home gym equipment company filed for bankruptcy in March and was later purchased by a Taiwan-based company for $37.5 million.
5. Bucca di Beppo
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The restaurant chain filed for bankruptcy in August, and was sold to a private equity firm for $27 million in November.
6. Express
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Express filed for bankruptcy in April. The retailer has initiated plans to close its stores and sell many of its remaining locations. A group led by brand-management firm WHP Global later purchased the company.
7. Hoonigan
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Hooligan, the automotive lifestyle brand founded by the late Ken Block, filed for bankruptcy in September.
8. Jo-Ann
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Jo-Ann filed for bankruptcy in March. The crafts store brand became a private company in April, delisting from the Nasdaq while managing to keep all locations open.
9. LL Flooring
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Formerly known as Lumber Liquidators, LL Flooring filed for bankruptcy in July. The company was bought by a private equity firm, which planned to rebrand its locations as “Lumber Liquidators.”
10. Miss America Competition
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Miss America competition filed for bankruptcy in November. It withdrew from bankruptcy court in December over an ownership dispute.
11. Party City
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Party City filed for bankruptcy in December, closing all remaining locations.
12. Red Lobster
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Red Lobster filed for bankruptcy in May. The company exited bankruptcy in September, with a new owner and a refreshed menu.
13. Spirit Airlines
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Spirit Airlines filed for bankruptcy in November. The airline expects to emerge from bankruptcy early this year.
14. Stoli Group USA
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Stoli filed for bankruptcy in December after a rough 2024. The company has experienced declining demand, a cyberattack and years of court battles with Russia.
15. T.G.I. Fridays
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T.G.I. Fridays filed for bankruptcy in November. It looks to “explore strategic alternatives in order to ensure the long-term viability of the brand ,” according to the company’s statement.
16. Ted Baker
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British clothing chain Ted Baker filed for bankruptcy in the U.S. in May. The company has been closing stores around the world.
17. The Container Store
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The Container Store filed for bankruptcy on Dec. 22 in Texas.
18. Tijuana Flats
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A Tex-Mex restaurant chain, Tijuana Flats filed for bankruptcy in April. it was acquired by Flatheads, LLC the same month.
19. True Value
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True Value has filed for bankruptcy in October after 75 years in business. It sold nearly all of its assets to rival Do it Best.
20. Tupperware
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Tupperware, whose name is as synonymous with plastic food storage containers as Kleenex is with tissues, filed for bankruptcy in September. Its intellectual property was purchased by Party Products LLC in November to keep the brand alive.