Experts Wonder: Will Kodak Join These Brands At Risk of Going Out of Business?

In a year already packed with business shakeups and bankruptcies, another name might be joining the drama: Kodak. In 2025, analysts and industry watchers are speculating about Kodak’s future, despite its decades-long reputation.

Kodak’s story is different from many of the other brands faltering this year. This beloved brand is fighting to find a foothold in a market that evolves faster than it can fathom. As Kodak's competitors continue to innovate, this brand faces increased pressure. But will Kodak ultimately join this list of brands that are completely at risk of going out of business?

247 Tempo brings you an updated look at these American companies that are under extreme financial strain in 2025. Research comes from The Washington Post, Business Insider, Associated Press, New York Post, Reuters, CNN Business, and corporate press releases. Let's take a closer look at the reality that these brands are facing.

This post was updated on August 12th, 2025, to reflect additional information.

Kodak has not yet filed for bankruptcy, but the outlook appears grim. Their struggle to keep up continues, but their business shifts have been largely unnoticed. Analysts have observed falling stock prices, reduced investments, and layoffs as warning signs. While Kodak insists it remains committed to its latest business plan in an attempt to change its course and future, industry observers wonder if it will be enough.

Del Monte Foods filed for Chapter 11 bankruptcy in July 2025, burdened by over $1 billion in secured debt and an overall decline in demand for canned goods. The company obtained $912.5 million in financing while preparing for a broader asset sale. Del Monte plans to continue operations under court supervision in the meantime as it seeks a stable future.

Forever 21 filed for Chapter 11 in March 2025, which may sound familiar; it's the company's second such filing in six years. Citing competition from ultra-cheap fast-fashion platforms like Shein and Temu, this brand closed approximately 350 U.S. stores, laid off hundreds of employees, and it also shut its L.A. headquarters.

Bargain Hunt, a lesser-known U.S. discount chain founded in 2004, filed for Chapter 11 in early February 2025 and abandoned all of its 91 stores by March. The parent company, Essex Technology Group, cited unsustainable debt levels between $100 million–500 million. With more than 300 job losses, the abrupt closures marked the end of their two-decade discount retail presence.

Pharmacy chain Rite Aid filed for Chapter 11 bankruptcy in May 2025. Just like Forever 21, it was the company's second filing in two years, with its total liabilities hovering between $1 billion and $10 billion. The restructuring plan involves selling off assets and closing hundreds of locations, with over 800 stores already shuttered by the month following its announcement.

Joann Fabrics, a major crafts retailer, filed for Chapter 11 in January 2025 and closed a shocking 800 stores by May. The company struggled with high operating costs and weak consumer demand, with many specialty brick-and-mortar retail stores feeling this same heat in 2025. Employees faced widespread layoffs as the chain wound down operations, a saddening time in the crafts industry overall.

CVS announced plans in 2025 to close approximately 270 underperforming pharmacy locations amid rapid cost-cutting measures. While not technically under Chapter 11 yet, the closures could be only the beginning. The company cited efficiency and shifting consumer habits as factors, as many pharmacies struggle to stay afloat.

Speaking of pharmacies struggling these days, Walgreens followed CVS by announcing roughly 150 store closures in 2025. Also aiming to adapt to changing healthcare and retail demands, the chain is redirecting resources toward larger or more profitable locations. This signals a broader pharmaceutical industry shift toward e-commerce and consolidation.

The Body Shop’s North American division liquidated in early 2024, closing all U.S. and Canadian stores by March 2025. Restructuring efforts are addressing mounting losses within the company, though they've had difficulty sustaining their midmarket beauty retail in this competitive U.S. market.

Jack In the Box announced plans to close 200 underperforming locations to reduce debt and streamline operations. The changes are part of a turnaround effort within its 'JACK on Track' initiative. Thousands of jobs are expected to be affected as underperforming sites are shuttered, with the entire fast food industry fielding post-pandemic business struggles.

Applebee’s closed some 150-odd U.S. locations in 2025 and launched a remodeling initiative called 'Lookin’ Good', a focused initiative alongside IHOP locations. The closures and brand refresh reflect an aim to optimize underperforming assets while maintaining brand relevance, though staff and local communities are still experiencing the impact of mass closures.

Like other brands on this list, Denny’s announced over 100 U.S. restaurant closures in 2025 to streamline operations and address performance issues. The chain plans to reinvest in redesigned locations instead of maintaining older, less optimal ones. Employees and franchisees have been affected nationwide, with older locations existing in many major cities.

Subway, the infamous global sandwich chain, closed over 600 locations in 2024 and continued shuttering stores into 2025. The closures are part of turnaround efforts necessitated by franchisee pressure and stagnant sales. Smaller, high-traffic locations remain a priority focus, but Subway is another quick-service restaurant feeling the heat these days.

TGI Fridays announced it would close 100 locations across the U.S. in 2025 due to declining foot traffic and especially high operational costs. Increased competition and shifting dining preferences are additional reasons for the closures, with other brands achieving more business in the same cost bracket. Franchise-led growth in stronger markets is the goal as of 2025.

Express, an apparel retailer, filed for Chapter 11 bankruptcy in 2025. The company plans to close roughly 95 stores as it restructures under pressure from the obvious: e-commerce competition. Despite the downturn, Express is exploring licensing and online branding partnerships to survive.

After emerging from bankruptcy in 2023, Party City announced additional restructuring measures in 2025, including another round of store closures. The brand is seemingly struggling to bounce back in the face of online retailers, downsizing in an effort to stabilize its finances. It reflects ongoing struggles for specialty retailers in the U.S. and beyond. Who's to say what other brands may be lost this year and in 2026!