8 Companies That Could Go Out of Business Soon

companies that could go out of business5. Sears Holdings

Sears and KMart (the two companies owned by Sears Holdings) have been on their way out for some time now. Customer service is terrible and it made our list of The 9 Worst Companies to Work For in the US thanks to a number of factors. The company has also managed to have consistent loses for 27 straight quarters and lost $1.36 billion in 2013.

Edward Lampert took control of the title of CEO last year in 2013 but we have yet to see any true improvement. Coming from the man who had the idea to merge Sears and KMart in the first place, we’re not expecting to see any improvement in general. The CEO has had to reduce his stake in the company to less than 50% due to redemptions from hedge fund clients alone. Sears Holdings is beginning to strategize a comeback by spinning-off of Lands’ End in a deal that could be worth an estimated $2.5 billion. However, with a growing debt of $2.8 billion, we somehow doubt this will end well for them.

 

ABOUT AUTHOR

Charlie is a recent college grad trying to make it in NYC. Born in a small suburban town, his thirst for success brought him to the big city, where he spends his days interning for multiple companies and trying to set himself apart from every other person with the exact same story as him.