Special Report

American Businesses That Might Not Survive Coronavirus

16. Libbey
> Industry: Manufacturing

Libbey may not be a household name, but chances are you are familiar with its products. The Toledo-based company is one of the leading providers of glassware to bars and restaurants, with sales of $782.4 million last year. As dining establishments closed, however, they had no need for new glassware and sales at Libbey suffered. After sales dropped from about $10 million per week before the pandemic to less than half of that throughout much of March, the company declared bankruptcy.

Source: tonda / Getty Images

17. Whiting Petroleum
> Industry: Energy

Whiting Petroleum became the first major shale company to file for bankruptcy protection when it did so on April 1. This came in the wake of oil prices collapsing because of decreased demand due to COVID-19 and a Saudi-Russian price war. The company was criticized after CEO Bradley Holly received a $6.4 million bonus after filing.

Source: M.O. Stevens / Wikimedia Commons

18. Tuesday Morning
> Industry: Retail

Retailer Tuesday Morning filed for bankruptcy on May 27. The discount homeware brand has over 687 stores in nearly 40 states, though as part of its filing, the company said it would close around 230 of those locations. As a nonessential business, Tuesday Morning closed all of its stores in March, furloughing around 9,000 employees, most of whom have since returned to work.

Source: Tony Hoffarth / Flickr

19. Apex Parks Groups
> Industry: Amusement parks

Apex Parks Groups operates 10 amusement and water parks in California, New Jersey, and Florida, though it recently closed a park in New York. While other amusement companies have been able to survive the shutdown brought on by COVID-19, Apex was already struggling to stay afloat. The company assets are worth between $50 million and $100 million, but its liabilities are between $100 million and $500 million.