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The Next 17 Big Companies That Are At Risk Of Bankruptcy

 

The Next 17 Big Companies That Are At Risk Of Bankruptcy

 

 

Caesars Palace Las Vegas

 

American Airlines, Eastman Kodak, Hostess…

Lots of iconic brands have filed for bankruptcy recently. Some blamed weak consumer demand, others pointed to rising commodity costs and pension demands. In any case, you can count on many more companies to follow suit.

 

GovernanceMetric’s International provided us with a list of companies with the greatest probability of financial distress. We picked out the biggest names.

 

Caesars Entertainment

 

Caesars Palace Las Vegas

 

Arnold C via Wikimedia Commons

Financial distress probability: 7.28%

 

 

Total assets: $28.9 billion

 

Founded: 1937

 

Caesars Entertainment is the world’s largest casino entertainment company.

 

Financial distress probability was calculated by GovernanceMetrics International.

Clearwire (CLWR)

Financial distress probability: 9.54%

 

 

Total assets: $8.8 billion

 

Founded: 2003

 

Clearwire, a wireless internet service provider, has seen its stock gain 40% since October when investors feared that the company would default on its debt, reported Reuters. In December, Sprint provided the company with a lifeline by agreeing to pay $1.6 billion to Clearwire in the next four years. 

 

Financial distress probability was calculated by GovernanceMetrics International.

McClatchy (MNI)

 

AP

Financial distress probability: 10.16%

 

 

Total assets: $3.0 billion

 

Founded: 1857

 

McClatchy, the third-largest newspaper company in the US, has seen a significant drop in its advertising revenue this past year. Currently, the company is focused on its digital advertising in order to make up for the losses, reported Reuters. 

 

Financial distress probability was calculated by GovernanceMetrics International.

AK Steel Holding (AKS:US)

 

AP Photo

Financial distress probability: 10.98%

 

 

Total assets: $4.58 billion

 

Founded: 1899

 

AK Steel, formerly Armco, is experiencing some problems with its pension charges and its net loss has doubled since last year, according to a company press realease.  

 

Financial distress probability was calculated by GovernanceMetrics International.

Republic Airway Holdings (RJET)

 

Flickr/AV8PIX Christopher Ebdon

Financial distress probability: 11.12%

 

 

Total assets: $4.2 billion

 

Founded: 1973

 

Republic Airways Holdings is an Indiana company that owns Chautauqua Airlines, Frontier Airlines, Republic Airlines and Shuttle America. At the moment, Republic Airways is trying to sell off its troubled asset Frontier, reported Reuters.

 

Financial distress probability was calculated by GovernanceMetrics International.

Tennessee Valley Authority

 

John Sevier Combined Cycle Plant

 

Flickr/TVA eb Team

Financial distress probability: 11.82%

 

 

Total assets: $46.39 billion

 

Founded: 1933

 

Tennessee Valley Authority, which provides electricity to nine million people in the southeast, needs funds for future projects but cannot afford to take on more dept as its debt ceiling is controlled by the congress. In order to raise funds, TVA has leased the John Sevier Combined Cycle Plant to a group of investors for 30 years at a price of $1 billion, reported Electric Co-op Today. 

 

Financial distress probability was calculated by GovernanceMetrics International.

Office Depot (ODP)

Financial distress probability: 11.90%

 

 

Total assets: $4.2 billion

 

Founded: 1986

 

Office Depot is a global supplier of office products and services.

 

Financial distress probability was calculated by GovernanceMetrics International.

Barnes & Noble (BKS)

 

http://www.flickr.com

Financial distress probability: 12.05%

 

 

Total assets: $4.1 billion

 

Founded: 1873

 

Barnes and Noble saw a drop in its stock earlier this month when the company lowered guidance and announced that the company is considering spinning out the Nook business. The simple reason why Barnes and Noble made it while Borders went belly up is the company’s investment in Nook and online sales. But can Nook compete with Amazon’s Kindle? 

 

Financial distress probability was calculated by GovernanceMetrics International.

Standard Pacific (SPF)

 

http://www.standardpacifichomes.com

Financial distress probability: 13.35%

 

 

Total assets: $2.2 billion

 

Founded: 1965

 

Standard Pacific, a builder of single-family homes, has taken some hits during the housing crisis and has seen recent downgrades from many banks including from CRT Capital, Raymond James and Compass Point, according to LocalizedUSA.

 

Financial distress probability was calculated by GovernanceMetrics International.

Dynegy (DYN)

 

alan5o5 via Flickr

Financial distress probability: 13.93%

 

 

Total assets: $11.1 billion

 

Founded: 1984

 

Dynegy, a producer and retailer of electric energy, capacity and ancillary services, was sued last year by bondholders who believed they were shortchanged by the company’s restructuring. The restructuring was done to try and help Dynegy avoid bankruptcy.

 

Financial distress probability was calculated by GovernanceMetrics International.

Talbots (TLB)

 

screenshot http://www.talbots.com

Financial distress probability: 14.86%

 

 

Total assets: $0.7 billion

 

Founded: 1947

 

Talbots is actively soliciting bids for a sale after turning down a buyout from Sycamore Partners in December, according to Reuters. UBS recently criticized Talbots for a lack of leadership and brand vision.

 

Financial distress probability was calculated by GovernanceMetrics International.

KB Home (KBH)

 

Flickr/Brough Turner

Financial distress probability: 15.52%

 

 

Total assets: $2.7 billion

 

Founded: 1957

 

America’s fifth-largest homebuilder gave a reason for optimism recently when it announced a surge in orders for new homes, according to Reuters. But until the housing recovery picks up steam, this company remains at risk.

 

Financial distress probability was calculated by GovernanceMetrics International.

 

 

Unites States Postal Service

 

Daniel Goodman / Business Insider

Financial distress probability: 17.30%

 

 

Total assets: $23.4 billion

 

Founded: 1775

 

There have been a few suggestion as how to rescue the USPS from bankruptcy. Among them are laying off workers, cutting its Pension fund, cutting Saturday delivery and even selling ads on the side of its trucks, The question that remains is, can USPS do enough to compete with UPS and FedEx?

 

Financial distress probability was calculated by GovernanceMetrics International.

 

 

Thomas Cook Group (TCG:LN)

 

Flickr/ell brown

 

Financial distress probability: 17.94%

 

Total assets: $10.43 billion

 

Founded: 2007

 

Thomas Cook Group, created through the merger of Thomas Cook AG (iconic British travel agency dating as far back as 1841) and My Travel group, has been flirting with bankruptcy for years. In 2009, Arcandor, which owned 52% of the company, filed for bankruptcy, according to the Daily Mail. In November, Prime Minister David Cameron called on banks not to let this “important and iconic British brand” fail, reported the Guardian,  

 

Financial distress probability was calculated by GovernanceMetrics International.

Air France (AF:FP)

 

Wikimedia Commons

Financial distress probability: 18.99%

 

 

Total assets: $37.1 billion

 

Founded: 1933

 

After a number of staff strikes, Air France is currently working on a turnaround plan, reported Reuters, which includes a hiring freeze, a pay freeze and cutbacks to its fleet. 

 

Financial distress probability was calculated by GovernanceMetrics International.

Imperial Sugar (IPSU)

 

Flickr/David Sledge

Financial distress probability: 20.37%

 

 

Total assets: $0.5 billion

 

Founded: 1843

 

Imperial sugar, processor and marketer of refined sugar, is expecting to post significant losses for the past year in addition to its 59% drop in stock prices, according to Houston Chronicle. What’s more, the company’s auditors are questioning the company’s ability to stay afloat.

 

Financial distress probability was calculated by GovernanceMetrics International.

Dendreon (DNDN)

Financial distress probability: 30.62%

 

 

Market cap: $0.9 billion

 

Founded: 1992

 

After underperforming in sales of its prostate cancer vaccine Provenge, biotechnology company Dendreon saw a 65% drop in stock in August. However, things might be looking up for the company after reporting huge revenue growth in the fourth quarter.

 

Financial distress probability was calculated by GovernanceMetrics International.

 

 

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