In one of the most economically brutal years in history, 2020 took down multiple companies, including two-century-old Brooks Brothers.
MAPLE LEAF CHEESE COOPERATIVE (Food Production)
During the weekend, one of Wisconsin's oldest cheese plants, the Maple Leaf Cheese Cooperative, filed for bankruptcy in an effort to buy time until it finds a new partner.
Maple Leaf's partnership with Maple Leaf Cheesemakers Inc. ended last month, with the company still searching for a partner that will help the cheese manufacturer navigate through the rough waters of the pandemic.
Maple Leaf Coop was founded 110 years ago and its award-winning English Hollow cheddar was named among the 20 finalists of the World Championship Cheese Contest in March.
FRANCESCA'S (Women's Retail)
The latest casualty in the retail industry was Francesca's, which said on Tuesday that it is planning to shut down its Houston corporate office in Houston for good. If the plan pushes through, 223 will be cut off early in 2021.
The retail chain filed for Chapter 11 bankruptcy protection earlier this month in a bid to obtain new financing. Around a quarter of its 700 stores are expected to be shut down by the end of next month.
Francesca's was founded in 1999 and offers women's clothing. It has over 450 stores across the United States.
SIZZLER (Casual Restaurant)
Popular steakhouse chain Sizzler filed for Chapter 11 bankruptcy in September, citing the lack of dine-in customers coming to the chain's restaurants since the pandemic started.
Sizzler president Chris Perkins said COVID's "economic impact due to long-term indoor dining closures" as well as the refusal of landlords to offer rent adjustments pushed the casual restaurant chain to the edge.
The restaurant industry was among the hardest-hit sectors this year as dine-in chains struggled to keep operations afloat during extended lockdowns and bans on in-person dining.
Sizzler has been in business for 62 years. It was one of the first casual restaurant chains in the U.S.
NORWEGIAN AIR (Airline)
In the latest hit to the Trans-Atlantic airline industry, low-cost carrier Norwegian Air filed for Chapter 11 in mid-November, following the drop of company shares by almost 99 percent this year.
The filing was done in Ireland, where the airlines' aircraft assets are being held. Despite the filing, Norwegian Air said it will work hard to protect as many jobs as it can as limited operations continue.
Norwegian Air was founded in the 1990s. Over the years, it has grown to become the biggest airline in Scandinavia. It became popular due to its low-budget flight offers.
BROOKS BROTHERS (Men's Retail)
After a historical run of 202 years in the men's retail industry, Brooks Brothers filed for bankruptcy in July, marking one of the biggest shocks in the sector.
While the retailer was already struggling before the pandemic due to fashion trends diverting away from formal get-ups, the company was hit harder when COVID-19 arrived.
Brooks Brothers is known for its long history of dressing up influential people, famous actors, and government leaders including the 16th president of the United States, Abraham Lincoln.
