50 Companies At Risk of Bankruptcy in 2020

Published on November 26, 2019
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TOMS

This for-profit company was founded in 2006 in Playa Del Rey, California. TOMS products were inspired when its founder, Blake Mycoskie, was in Argentina as a competitor on the popular show, The Amazing Race. He was inspired to create a simple slip-on canvas shoe. This simple idea eventually was picked up, and suddenly stores around the world were selling TOMS shoes. Unfortunately, TOMS would become a major fad and would slowly find its shoes and products falling out of many retail stores.

TOMS

TOMS

J. Crew

J. Crew is a famous All-American brand that offers everything from women, men, and children’s clothing. It also has a line of swimwear, outerwear, bags, and jewelry. In 2015, the company found its women’s’ wear was struggling to keep an edge over their competitors. Two years later, the brand cut 250 jobs, and then that same year, the company faced over $567 million in debt. J. Crew is presently undergoing a massive change and are seeking to sell its products online.

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J. Crew

J. Crew