13 once-beloved companies that disappeared in the past decade

Image
Henri Bendel is one of the many retail stores that closed in 2019. Craig Barritt/Getty Images for Henri Bendel


As a result of stagnating sales, dwindling foot traffic, and consumers’ tastes in food changing within the last decade, brands of all kinds have had to close their doors.

Image
The last decade was full of brand closures. AP

Source: Business Insider


Some brands and restaurant chains have gone bankrupt over the last 10 years causing them to shut down, while the future of others still remains unclear.

Image
Many companies have gone bankrupt in the past decade. AP

Source: Business Insider


Airline, Wow Air, known for its cheap flights from the United States to Europe, ceased operations in 2019.

Image
Wow Air ceased operations in 2019. Courtesy of WOW Air

Source: Business Insider


The budget airline struggled with profitability, likely because of a combination of rising fuel costs and a decrease in tourist visits to Iceland in recent years.

Image
Wow Air has seen better days. WOW Air

Source: Business Insider


In March 2019, Wow Air suddenly announced that it was ceasing all operations, leaving hundreds of passengers stranded.

Image
Wow Air’s closure this year left passengers stranded. WOW Air

Source: Business Insider, CNBC


Iconic luxury brand, Henri Bendel, closed its doors for good in 2019.

Image
Henri Bendel was a New York City staple. Craig Barritt/Getty Images for Henri Bendel

Source: CNN


Henri Bendel founded his namesake store in 1895, and the brand became a pioneer in the world of luxury fashion. By 1985, the brand was acquired by L Brands.

Image
Henri Bendel was a more than 100-year-old business. Business Insider/Jessica Tyler

Source: Business Insider


After a decline in sales and not staying relevant to customer needs, L Brands announced in 2018 it would be closing the brand including all 23 Henri Bendel stores.

Image
An empty Henri Bendel store. Timothy A. Clary/Getty Images

Source: Business Insider


The beloved accessories chain, Charming Charlie, also went bankrupt in 2019.

Image
Charming Charlie was a popular accessories store in the 2000s. Mike Mozart/Flickr

Source: Business Insider


In 2017, the brand’s CFO blamed the “continuing decline of physical consumer traffic,” as the reason why Charming Charlie needed to file for bankruptcy and close its stores.

Image
The brand was lacking foot traffic in its stores. Mike Mozart/Flickr

Source: Business Insider


The brand first went bankrupt in 2018 but had to file again in 2019 and close all of its 261 stores across 38 states.

Image
Charming Charlie filed bankruptcy twice and officially in 2019. Kzoo Cowboy/Flickr

Source: USA Today


Payless ShoeSource disappeared in 2019.

Image
Payless has gone bankrupt. NurPhoto/Contributor/Getty Images

Source: Business Insider


Payless was once the largest family-owned footwear chain in the United States, and the company peaked in the 1990s, selling 250 million shoes a year.

Source: Business Insider, Wall Street Journal


Although Payless shoes were discounted compared to other retailers, the company didn’t count on competition from retailers like Target and Walmart, which quickly rose in popularity throughout the 2000s.

Image
Target and Walmart became major competition for Payless. Carlo Allegri/Reuters

Source: Business Insider


Finally, in 2017, Payless officially filed for bankruptcy. Then two years later, the company filed for bankruptcy again and announced that it would close all of its stores for good.

Image
The brand filed for bankruptcy twice in two years. Reuters

Source: Business Insider


Alta Motors was an electric motorcycle maker.

Image
Alta Motors cofounder and CEO Marc Fenigstein stands next to the Redshift SM and MX electric motorcycles. Aaron Brown/Business Insider

Source: Business Insider


Although it raised money from investors such as Tesla cofounders, Marc Tarpenning and Martin Eberhard, the company was unable to sustain itself.

Image
Alta Motors couldn’t sustain itself. Alta Motors

Source: Business Insider


Gymboree, the popular high-end children’s clothing brand, filed for bankruptcy and closed its stores in 2017.

Image
Gymboree was a popular store before it went bankrupt in 2017. GTD Aquitaine/Wikimedia Commons

Source: Business Insider


After a private equity firm bought Gymboree for $US1.8 billion, the brand opened 400 stores overseas. But the rapid expansion wasn’t sustainable.

Image
The rapid expansion was too much for the brand to handle. AP

Source: Business Insider,CBS


Gymboree eventually filed for bankruptcy in June 2017 and closed 375 stores.

Source: Business Insider


Beloved toy store, Toys R Us, filed for bankruptcy in 2017.

Image
Toys R Us was a beloved toy brand. AP/Julio Cortez

Source: Business Insider


Toys R Us began as a single store in 1948 and at its peak, controlled a quarter of the global toy market. During that time the company was selling 18,000 different toys in more than 1,000 stores.

Image
Toys R Us became the go-to store for toys. Shoshy Ciment/Business Insider

Source: Business Insider


A combination of changing taste in toys, a failed buyout, its stores becoming dated, and the eventual rise of e-commerce, caused Toys R Us to struggle.

Image
A Toys R Us employee places a receipt in a customer’s bag at a New York location in 2011. Andrew Burton/AP Photo

Source: Business Insider


Toys R Us also had growing debt. When it finally declared bankruptcy, the company owed more than $US5 billion.

Image
Toys R Us faced many hardships. Shoshy Ciment/Business Insider

Source: Business Insider,USA Today


But we haven’t seen the end of Toys R Us just yet. Tru Kids Brands purchased the company’s assets in October 2018 and in November 2019, Toys R Us opened a new retail store in Paramus, New Jersey.

Image
Toys R Us is trying to make a comeback. Shoshy Ciment/Business Insider

Source: Business Insider, The New York Times, NJ.com


Once-beloved restaurant chain, Ruby Tuesday, first closed more than 100 stores in 2016.

Image
Ruby Tuesday was once a booming business. Flickr/Mr. Blue MauMau

Source: Mashed


By 2017, Ruby Tuesday was sold to a private company, NRD Capital, which continued to close restaurants. By the end of the decade, the restaurant shut down around 400 locations due to low sales.

Image
The chain continued to close locations. Ruby Tuesday

Source: Mashed


Sporting goods store, Sports Authority, said goodbye to its customers in 2016.

Image
Sports Authority closed its doors in 2016. Getty

Source: Business Insider


Sports Authority couldn’t keep up with the competition from the higher-end Dick’s Sporting Goods and online purchases made on Amazon, or directly from sports leagues.

Image
Dick’s Sporting Goods was a major competitor of Sports Authority. Business Insider/Jessica Tyler

Source: Business Insider,CNN


In March 2016, Sports Authority filed for bankruptcy and closed all of its stores nationwide.

Image
Sports Authority closed its doors in 2016. AP Photo/Richard Drew

Source: Business Insider,CNN


A&P, once the largest grocery store chain in the United States, closed its doors for good in 2015.

Image
A&P was a considered the largest grocery store chain. Chris Hondro/Getty Images

Source: Business Insider


A&P got pushed out by specialty grocery brands like Whole Foods and Trader Joe’s, which began to dominate the grocery market.

Image
Whole Foods became a major competitor. Joe Raedle/Getty Images

Source: Business Insider/Kelton Global


Aside from other food retailer competitors, A&P failed to keep up with new trends and it was known to have poor customer service.

Image
A&P was falling behind the supermarket pack. Jeff Greenberg/Getty Images

Source: Business Insider


In 2010, the chain filed for bankruptcy, and then again in 2015 before officially closing its doors the same year.

Image
A&P officially closed its stores in 2015. David McNew/Getty Images

Source: Business Insider, USA Today


Beloved restaurant chain, Old Country Buffet, filed for bankruptcy in 2012 for the second time.

Image
Old Country Buffet faced many difficulties staying open. Dan R. / Yelp.com

Source: Business Insider


As a result of the ongoing bankruptcy, the brand closed 81 restaurants throughout the country and now, there are just 18 Old Country Buffet locations remaining.

Image
There are only 18 Old Country Buffet locations remaining. Shuttershock

Source: Business Insider


Movie rental giant, Blockbuster, closed its doors in 2011.

Image
Blockbuster was once the go-to movie rental store. AP Photo/Ron Heflin

Source: Business Insider


In the early 2000s, with more than 9,000 locations globally, Blockbuster was worth about $US5 billion.

Image
Blockbuster was a billion dollar company. AP Photo/Mark Thiessen

Source: Business Insider


At the brand’s peak in 2004, it employed 60,000 people.

Image
Blockbuster’s shelves filled with movies. Yelp/Scott K.

Source: IB Times


As popular as it was, a mix of poor leadership and competition from Netflix, Redbox, and on-demand video was a recipe for disaster for Blockbuster.

Image
Netflix and Redbox quickly kicked Blockbuster to the curb. Tara Walton/Getty Images

Source: Business Insider


In 2010, Blockbuster filed for bankruptcy with $US1 billion in debt. At the time, it was the last remaining video-rental chain in the United States.

Image
2010 was the year Blockbuster filed for bankruptcy. Photo by Andrew H. Walker/Getty Images

Source: Business Insider


In 2011, Dish Network acquired Blockbuster’s remaining assets for about $US320 million, and two years later, Dish began closing all remaining stores in the United States.

Image
Dish Network closed all Blockbuster stores. Education Images/Getty Images

Source: Business Insider


Borders was a favourite bookstore that closed in 2011.

Image
Borders was a popular bookstore. Joe Raedle / Getty Images

Source: Business Insider


Although the bookstore had locations in airports, outlet malls, and shopping plazas, the retailer failed at prioritising its online presence and instead focused on just expanding its stores.

Image
Borders didn’t pay much attention to its competitors. JEWEL SAMAD/AFP/Getty Images

Source: Business Insider


Borders also didn’t have an e-reader like Barnes & Noble’s Nook or Amazon’s Kindle to keep the company competitive in the digital age.

Image
Borders couldn’t compete with the other e-readers. Amazon

Source: Business Insider, Yahoo! News


Unable to keep up with competition, Borders eventually filed for bankruptcy and closed permanently in 2011.

Image
Borders eventually closed its doors in 2011. LancerE/Flickr

Source: Business Insider, Wall Street Journal