Some major companies that have closed since 2010 are Blockbuster, Movie Gallery, Washington Mutual, Loehmann's and B. Dalton. These companies were once leaders in their respective fields, but staunch competition led to tremendous decreases in revenue and forced them out of business.Continue Reading
Blockbuster in its peak was the largest home movie and video game provider; the company used to have a staff of over 60,000 employees and 9,000 stores. The company filed for bankruptcy on Sep. 23, 2010. Movie Gallery was the second largest movie and game rental chain in the United States, but on Apr. 30, 2010, the company announced it was closing and liquidating all of its stores. In its prime, the company had more than 4,500 stores in North America. The two movie rental companies ended up crashing due to digital streaming websites such as Netflix and Redbox.
Washington Mutual was a finance and insurance company that closed down due to the 2008 financial recession. All Washington Mutual's locations were rebranded as Chase banks. Loehmann's was an online fashion retailer that filed for bankruptcy in December 2013 and closed down all its stores. B. Dalton was an American bookstore that once operated over 750 stores at its peak. The bookstore closed down due to the success of Barnes & Nobles and the prevalence of electronic books.Learn more about Corporations