‘Good’ and ‘bad’ is part of life, and ‘highs’ and ‘lows’ are the part of every business life-cycle! It is mind boggling how few of these big names in the marketplace, were once at the verge of collapse. But there miraculous turnaround or revival into a Giant, yet again, is a story worth admiration.
Check out this list of the famous business’ bounce back:
Hard to believe that one of the world’s largest companies was once in dire stress. It was even on the verge of going bust in 1997 when at the last minute, arch-rival Microsoft (MSFT) swooped in with a $150 million investment and saved the company. This was for the reason, to avoid being viewed as a monopoly without competition from Apple.
Had that not happened the world may never have seen iPods, iPads, iPhones or iMacs. But that was just the start of Apple’s return to glory, the greatest corporate comeback story of all time, led by Steve Jobs.
The economic recession of 2008 brought bankruptcy upon several players including the Big 3 giant GM. its 100th anniversary year was marked with a debt of more than $30 billion. Hence, it filed for Chapter 11 bankruptcy in June of 2009, and with the help of government funding and a radical restructuring plan by corporate bankruptcy expert Jay Alix of AlixPartners, GM made an initial public offering in 2010 and released a profitable earnings – that very year onwards.
Sbarro went bankrupt twice: first through a Chapter 11 bankruptcy reorganization in 2011 and then again in 2014. The company has re-emerged with the help of a collaboration of private equity firms to transform the company’s image to a more fast-casual style, rather than its previous kiosk or food counter concept.
After ruling the photography industry for 100 years, like many older companies, Kodak became a victim of changing times and technologies. Kodak struggled to keep up with the transition to digital, and ultimately filed for Chapter 11 bankruptcy in January 2012. After nearly two years of corporate reorganization, a new Kodak emerged in September 2013, branding itself as a “technology company focused on imaging for business”
With blockbuster movies such as “Spiderman,” “The Avengers,” and “Guardians of the Galaxy,” it is surprising to note that the company filed for bankruptcy in 1996. This was before the company got into the movie-making business, when it focused solely on comic books.
ToyBiz and Marvel Entertainment Group were merged into Marvel Enterprises to bring it out of bankruptcy in June 1998. Marvel Enterprise organized itself into four major units, Marvel Studios, Toy Biz, Licensing and Publishing, while in November 1999 adding Marvel Characters Group to manage Marvel’s IP and oversee marketing – which is supposedly doing very well.
We can safely conclude that, it is not the end until the last ball of effort. No matter what the condition is – a turnaround is always possible – believe in the ray of hope and work towards making it big!