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. Here is a list of the 17 largest companies with the greatest probability of financial distress. Words: 571
So say Gus Lubin and Jana Kasperkevic (www.businessinsider.com) in edited excerpts from their original article*.
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They go on to say, in part:
1. Caesars Entertainment – the world’s largest casino entertainment company
Financial distress probability: 7.28% (calculation by GovernanceMetrics International); Total assets: $28.9 billion
2. Clearwire (CLWR) – a wireless internet service provider
Financial distress probability: 9.54%; Total assets: $8.8 billion
3. McClatchy (MNI) – the third-largest newspaper company in the U.S.
Financial distress probability: 10.16%; Total assets: $3.0 billion
4. AK Steel Holding (AKS:US) – formerly Armco
Financial distress probability: 10.98%; Total assets: $4.58 billion
5. Republic Airway Holdings (RJET) – an Indiana company that owns Chautauqua Airlines, Frontier Airlines, Republic Airlines and Shuttle America
Financial distress probability: 11.12%; Total assets: $4.2 billion
6. Tennessee Valley Authority – electricity provider to nine million people in the southeast
Financial distress probability: 11.82%; Total assets: $46.39 billion
7. Office Depot (ODP) – a global supplier of office products and services
8. Barnes & Noble (BKS) – book retailer
Financial distress probability: 12.05%; Total assets: $4.1 billion
9. Standard Pacific (SPF) – a builder of single-family homes
Financial distress probability: 13.35%; Total assets: $2.2 billion
10. Dynegy (DYN) – a producer/retailer of electric energy, capacity and ancillary services
Financial distress probability: 13.93%; Total assets: $11.1 billion
11. Talbots (TLB) – womens clothing and accessories retailer
Financial distress probability: 14.86%; Total assets: $0.7 billion
12. KB Home (KBH) – America’s fifth-largest homebuilder
Financial distress probability: 15.52%; Total assets: $2.7 billion
13. United States Postal Service – mail/package delivery
Financial distress probability: 17.30%; Total assets: $23.4 billion
14. Thomas Cook Group (TCG:LN) – travel agency
Financial distress probability: 17.94%; Total assets: $10.43 billion
15. Air France (AF:FP) – France’s national airline
Financial distress probability: 18.99%; Total assets: $37.1 billion
16. Imperial Sugar (IPSU) – processor and marketer of refined sugar
Financial distress probability: 20.37%; Total assets: $0.5 billion
17. Dendreon (DNDN) – a biotechnology company and developer/producer/distributor of prostate cancer vaccine Provenge
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