Several well-known US retailers and businesses faced significant challenges in 2023, leading to bankruptcy filings.
WeWork, Rite Aid, Bed Bath & Beyond, Tuesday Morning, Party City, SmileDirectClub, and Lordstown experienced financial turmoil and legal actions.
WeWork’s bankruptcy followed a period of struggle exacerbated by the pandemic and internal issues. (Trending: Joe Biden Emailed Hunter’s Business Associates 54 Times)
Rite Aid’s bankruptcy was influenced by legal battles, financial losses, and competition.
Bed Bath & Beyond’s bankruptcy resulted in store closures and a subsequent acquisition by Overstock.com.
Tuesday Morning and Party City also succumbed to financial pressures, while SmileDirectClub aimed to restructure and continue operations.
Lordstown, an electric vehicle maker, filed for bankruptcy and accused its former partner, Foxconn, of fraudulent behavior.
These events reflect the challenging economic landscape faced by various industries in the US.