The COVID-19 pandemic has affected many industries and companies worldwide, leaving some struggling to stay afloat. In this article, we will explore which top companies in the USA are expected to go bankrupt by 2024 based on various factors such as financial performance, industry trends, and economic conditions.
1. JC Penney
JC Penney is a struggling retailer that has faced declining sales and profit margins for years. The company’s financial performance has been worsened by its heavy debt load, which makes it vulnerable to economic shocks. In addition, the pandemic has hit the retail industry hard, with many stores forced to close or reduce their hours of operation.
2. Sears Holdings
Sears Holdings is another struggling retailer that has faced declining sales and profit margins for years. The company’s financial performance has been worsened by its heavy debt load, which makes it vulnerable to economic shocks. In addition, the pandemic has hit the retail industry hard, with many stores forced to close or reduce their hours of operation.
3. Hertz Global Holdings
Hertz Global Holdings is a struggling car rental company that has faced declining revenue and profit margins for years. The company’s financial performance has been worsened by its heavy debt load, which makes it vulnerable to economic shocks. In addition, the pandemic has hit the travel industry hard, with many people avoiding non-essential travel.
4. Bank of America
Bank of America is a large bank that has faced declining profit margins due to increased competition and regulatory pressures. The company’s financial performance has been worsened by its heavy debt load, which makes it vulnerable to economic shocks. In addition, the pandemic has hit the economy hard, leading to reduced demand for loans and mortgages.
5. United Airlines
United Airlines is a struggling airline that has faced declining revenue and profit margins due to increased competition and the pandemic. The company’s financial performance has been worsened by its heavy debt load, which makes it vulnerable to economic shocks. In addition, the pandemic has hit the travel industry hard, leading to reduced demand for flights.
In conclusion, while these companies have faced various challenges in recent years, there is no guarantee that they will go bankrupt. However, based on their financial health, industry trends, and economic conditions, they are at a higher risk of facing bankruptcy than other companies. It is important for directors to closely monitor these companies’ performance and take appropriate actions to mitigate risks and maintain financial stability.
