NOKIA, SAAB, MySpace and Sony Ericsson: four of the brands that are likely to disappear in the coming year and a half, according to the business news site 24/7 Wall St.
Some of the brands, like American Apparel, are suffering from falling sales, liquidity issues and the rising cost of raw materials.
The site says it made its selection on the basis of parent company disclosures about the likelihood of shutting down operations, a downturn in profits, bankruptcy, and rising operating costs.
Car manufacturer Saab admitted this week that it does not have enough money to pay its employees. The company said it is struggling to secure short-term funding to enable it to issue the pay cheques, but says it’s “not giving up”. Saab sold just 30,000 cars last year, when it needs to offload an estimated 120,000 of them to break even.
Meanwhile, Nokia announced recently that it would be cutting 4,000 jobs worldwide by the end of next year as it works to cut costs and counter competition from its rivals. Its CEO Stephen Elop issued an internal memo earlier this year outlining the company’s plummeting performance and its struggles across each of the high-, mid- and low-end product ranges.
In photos: 8 of the brands listed by 24/7 Wall St:
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