1- Victoria’s Secret has declared bankruptcy
2- Zara closed 1,200 stores
3- La Chapelle withdrew 4391 stores
4- Chanel is no longer manufactured
5- Hermes will no longer be continued
6- Patek Philippe has stopped production
7- Rolex stopped production at 2:25 AM Jul 24, 2023.
8– The luxury industry of the world has collapsed.
9 – Nike has a total of $23 billion to prepare for the second phase of layoffs.
10– Gold’s gym filed for bankruptcy.
11 – The AirBnb founder said that 12 years of effort was wiped out in 6 weeks due to the pandemic.
12– Even Starbucks announced it would permanently close its 400 stores.
13– WeWork isn’t in a good position either.
14- Nissan Motor Co. could close in the US.
15– The largest car rental company (Hertz) filed for bankruptcy. It also owns Thrifty and Dollar.
16– The largest trucking company (Comcar) filed for bankruptcy – it has 4000 trucks.
17- The oldest retail company (JC Penny) filed for bankruptcy – to be taken over by Amazon for pennies.
18 – The world’s largest investor (Warren Buffet) has lost $50 billion in the last two months
19 – The world’s largest investment firm (BlackRock) is signaling disaster for the global economy – over $7 trillion under management.
20 – The largest mall in America (Mall of America) has stopped making mortgage payments.
21- The most prestigious airline (Emirates) laid off 30% of their workers.
22 – The US Treasury is printing trillions to keep the economy afloat.
23– Estimated number of retail stores to close in 2023 – 12,000 to 15,000.