10 WELL-ESTABLISHED FAILED BUSINESSES IN INDIA-
There are several businesses that collapse in India's Corporate History, Let's see a few of them, many of these companies are alive today, but they lost their past reputation.
Kingfisher Airlines:
Once a leading player in the Indian aviation industry, Kingfisher Airlines suffered financial losses and was unable to repay its debts, leading to its eventual shutdown in 2012.
Jet Airways:
Jet Airways is a significant player in the Indian aviation industry, Jet Airways also faced financial difficulties and was forced to suspend operations in 2019.
Videocon:
Videocon was a consumer electronics company that suffered financial losses due to high debt and competition from international players. The company eventually filed for bankruptcy in 2018.
Satyam Computer Services:
Satyam was a leading IT services company in India, but a major accounting fraud scandal in 2009 led to its downfall and eventual acquisition by Tech Mahindra.
Kingfisher Beer:
Another venture of Vijay Mallya, Kingfisher Beer faced financial difficulties and was unable to repay its debts, leading to its sale to Heineken in 2020.
Reebok India:
Reebok's India operations faced a major financial scandal in 2012, where the company was accused of fraud and embezzlement. The company eventually had to shut down many stores and restructure its operations.
Cafe Coffee Day:
Cafe Coffee Day was a leading coffee chain in India, but the tragic death of its founder in 2019 and financial difficulties led to the sale of the company to the Coffee Day Group.
Hindustan Motors:
Hindustan Motors was a major automobile manufacturer in India, but the company faced financial difficulties due to declining sales and high debts. The company eventually sold its iconic Ambassador car brand to Peugeot in 2017.
Suzlon Energy:
Suzlon Energy was a leading player in the renewable energy industry in India, but the company faced financial difficulties due to debt and declining demand for wind turbines. The company had to restructure its operations and sell off assets to repay its debts.
Essar Steel:
Essar Steel was one of India's largest steel companies, but it faced financial difficulties due to high debt and low demand for steel. The company eventually filed for bankruptcy in 2017 and was acquired by ArcelorMittal in 2019.
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