Halloween Special: Most of us in business know, nothing is certain. To stay competitive and continue making a profit, a company can never stop evolving. Some companies have to flirt with death before realizing this truth.
One of the great examples of this is the beloved toy manufacturer, Lego. At one time, Lego was leading the toy manufacturing industry, however it found itself at death’s doorstep soon enough. Why? Times were-a-changin and electronic toys began to takeover the market, making the block toys less appealing. This, and their debt of almost $1 billion left the company facing bankruptcy. As it turns out, not everyone was affected negatively in the 2008 recession, because Lego’s low cost toys along with the company’s new lean business structure, saw sales increase by 25%. Lego was back to being an industry leader!
Lego took itself outside the shadows of the death and back to the top through better business practices. They aren’t the only ones who’ve met a looming fate and turned their boat around. Apple Inc. (NASDAQ:AAPL), eBay Inc (NASDAQ:EBAY), Starbucks Corporation (NASDAQ:SBUX), companies otherwise known as examples of great businesses have all had their trying times.
In the spirit of Halloween, Firmex Virtual Data Rooms put together this presentation of Companies Back from the Dead. Want to know what curses brought successful companies knocking on death’s door? What spells were cast to reverse their fate? Check out the slideshow to find out.
Halloween special 10 companies back From the Dead below
By Maria Khan