These Failing Companies Will Finally Disappear in 2017
Companies fail for all sorts of reasons – changing political climate, controversy, lack of consumer interest, technology, the list goes on …
But the real shockers are when the companies you grew up with call it quits. Or when the high-profile startups that the media said would never fail, fail.
These are the companies that affect consumers most when they go under, and can cost investors a lot of money if they aren’t ahead of the crowd.
So we’ve compiled a list of five failing companies that most likely won’t be around by the end of 2017.
The list includes one company embroiled in scandal and a multinational business that has been a household name in America for over 130 years…
Failing Company No. 5: Theranos
The health technology company famously dubbed for having the next Steve Jobs as CEO is now in serious trouble.
The downfall started with a scathing article by The Wall Street Journal in October 2015. The article revealed the inconsistencies in the micro-sized blood sampling machinery Theranos used – and the $9 billion startup began to crumble.
In July, the Centers for Medicare and Medicaid Services stated that the company had ‘put patients in immediate jeopardy’ by claiming that the device was more effective than it actually was found to be. Recommendations and analyses based on the results of Theranos’ lab tests became jeopardized.
This post was published at Examiner on November 30, 2016.