IanBig Companies in Trouble
July 9th 2010 02:30
Big Companies In Danger Of Sliding To Bankruptcy
The GFC may be over but there are some very large multinational corporations which are a chance of heading towards bankruptcy in the near future. This article at Business Insider takes a look at some of the more well known companies.
Bankruptcy odds come from Audit Integrity.
Renault SA
Market cap: $12 billion
Bankruptcy probability: 1.3%
Renault sold its stake in a failing joint venture Indian Mahindra & Mahindra in April. Now the debt-burdened French automaker has considered selling off a major stake in Volvo AB.
Eastman Kodak Company
Bankruptcy probability: 5.7%
Kodak saw first quarter profits after selling patents to LG and Samsung. But overall sales are dropping, because consumers don't buy film anymore. The company is predicting losses through the year.
Porsche Automobil Holding
Market cap: $4.0 billion
Bankruptcy probability: 5.7%
Porsche borrowed $980 million from VW last year to stave off bankruptcy. Lately they've seen a downturn in sales, according to Audit Integrity.
SUPERVALU INC
Market cap: $2.8 billion
Bankruptcy probability: 1.8%
SUPERVALU posted a negative earnings surprise on April 20. The supermarket chain lost money during the recession, and has tried to revamp with focus on its discount line Save A Lot.
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