Brands That Didn’t Survive 2024

In 2024, several well-known businesses globally succumbed to mounting financial pressures, leading to liquidation and ultimately short down operations. The economic turbulence worldwide made 2024 a tough one for many businesses. From the big names to small businesses who are just trying to find their feet. In November, company liquidations were up to 27% alone.

Here are some of the businesses that couldn’t survive the heat of 2024.

1. Kimberly-Clark (Nigeria)
The personal care products giant was making waves in Nigeria, packed up its business and left in June 2024, citing economic challenges and a shift in global strategic priorities

2. Big Lots (USA)
Big Lots, a popular company in the U.S., filed for bankruptcy in September after previously warning that it had “substantial doubt” about its survival. The discount retailer recently announced that its deal to sell itself to a private equity firm had fallen through, and it will soon close its remaining 963 locations.

3. Chopnownow (Nigeria)
Chopnownow, a food delivery service in Nigeria, that began in 2020, closed business in February 2024. The service, which operated in Lagos, faced intense competition from larger players in the food delivery market.

4. Bowflex (USA)
Bowflex, a U.S. company perhaps best known for its late-night infomercials, is an at-home gym equipment maker that filed for bankruptcy in March. A few months later, it emerged from Chapter 11, signing a deal with a Taiwan-based company to “acquire substantially all of the assets” for $37.5 million in cash.

5. Express
The once-trendy mall staple filed for bankruptcy in April after consistently struggling with continued missteps over its merchandise mix that failed to get shoppers excited. As a result, nearly 100 locations closed and the company, which also owns the Bonobos brand, sold itself to a consortium led by WHP Global in June.

6. Ellies (South Africa)
Ellies, once a prominent South Africa, Johannesburg Stock Exchange (JSE) company, announced liquidation after its business rescue process failed.
The company, which started in 1979 selling TV aerials and expanded into satellite TV equipment and renewable energy, saw its fortunes decline due to government mishandling of digital migration.

7. Toplyne (India)
A Bengaluru-based SaaS company in India, that provides sales software for product-led companies, which closed operations in October 2024 due to difficulty achieving product-market fit.

8. Drip Footwear (South Africa)
Drip Footwear, a popular South African sneaker brand founded in 2019, also closed up in 2024 due to financial difficulties. The company struggled to pay an R20 million advertising bill, which led to a court-ordered liquidation.
This has affected its 14 retail stores and employees, who were laid off after experiencing irregular salary payments.

9. Wildwood (UK)
Wildwood closed 14 branches across England including restaurants in Cambridge, Plymouth and Kettering. The move was part of a major restructuring plan from its parent company, Tasty.

10. GlaxoSmithKline (Nigeria)
GlaxoSmithKline once one of the biggest pharmaceutical and biotechnology companies in Nigeria, announced that it would cease operations in Nigeria in August 2023. Which they finally did in 2024.

Conclusion
The wave of closures also swept through the cryptocurrency and blockchain sectors, fashion sectors, banking sectors, and a whole lot more.

Most of this business, especially the upcoming ones, wouldn’t have gone down the drain if they had taken their time and recourses to establish their presence online and seek professional help from business experts like Geeksvillage,

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