Among them is Thomas Cook's bankruptcy. Learn the biggest bankruptcies in the past decade?

The announcement of major companies such as "Block Buster", "Toys R Us" and "Thomas Cook" bankruptcy during the past decade a sensation in the media, while two other giants managed to escape bankruptcy.

In a report published in the magazine "Italy's Way", Italian writer Andrea Petosi said that with the bankruptcy of "Lehman Brothers" bank, the beginning of the last century witnessed the biggest financial crisis after the collapse of Wall Street in 1929.

In the twenties of the last century, large companies in various sectors found themselves closing their doors or declining the volume of their production until the expired contract brought with it the bankruptcy of brilliant companies.

Block Buster
The author pointed out that the first to open the series of failures is the company "Block Buster", the giant distribution and rental of videos and video games, which was founded in 1985.

In 2010, the company went bankrupt by applying Chapter 11 to try to reorganize its business.

On the other hand, specifically in 2013, the group declared bankruptcy permanently after it was unable to adapt to the changes in the entertainment industry, and with the emergence of streaming media.

In 2000, Netflix chairman Red Hastings suggested that BlockBuster buy his company for $ 50 million, but the then-CEO of the giant, John Antioquo, rejected the offer.

Borders
The library sector has witnessed a fundamental change in the sales system, especially thanks to the revolution of e-commerce launched by Amazon 25 years ago.

Among the victims is the American bookstore chain "Borders" that existed in the late 1990s in many countries in gigantic stores with a huge area of ​​4,600 square meters.

The company was incorporated in 1971 and completely bankrupt in 2011, after closing all its stores in the United States, United Kingdom, New Zealand, and Australia.

Thomas Cook
The tourism sector was also not spared from the failures, as the British tourism company, Thomas Cook, made headlines after announcing last September its bankruptcy and the cancellation of most reservations and all flights due to debts estimated at 1.7 billion pounds.

Toys R Us
The writer explained another failure, mainly due to the tremendous progress of e-commerce, and related to the American chain of toy stores "R Us" that closed its doors in 2018 after years of negative budgets and debts amounting to $ 7 billion.

Many manufacturing companies were then forced to sell their products online, bypassing distribution.

Kodak
Some companies have succeeded in overcoming the specter of bankruptcy, like Kodak.

It is noteworthy that the American giant company was founded in 1888, where it was a pioneer in the manufacture of professional and consuming cameras for years, but it was not spared the digital revolution without damage.

In 2012, the company, along with its subsidiaries in the United States, filed for bankruptcy by merging with its subsidiary.

In the rehabilitation plan, the company was forced to stop producing cameras and films in particular.

In 2013 the company emerged from the specter of bankruptcy, and since then it has started focusing mainly on other products.

Black Berry
In the mobile phone sector, it should be mentioned "BlackBerry", which controlled about 50% of the mobile phone market in the United States and 20% globally, but it is completely absent today from the smart phone market.

Because it avoided adopting a special operating system and adapting to the digital screen revolution, the company found itself completely excluded from the 2016 smart phone war, although it recently announced the launch of a new phone, and continues to focus on integrated physical keyboards.