Large corporations can collapse as quickly as they grow, and reviving them from the brink requires significant effort. Some companies disappear into history, while others get absorbed by larger firms.
However, those that make a successful comeback rely on brilliant products, smart marketing, talented employees, and, sometimes, a bit of government support.
The companies on this list managed to stage some of the most dramatic corporate recoveries in history.
Looking for a job? Visit whatjobs.com today
Lego: From the Brink to the Top of the Toy Industry
Lego has long been praised for its creativity-inspiring toys. However, just over a decade ago, the Danish company faced serious financial difficulties. It was discovered that Lego was unknowingly selling some products at a loss. Additionally, many of its new toy sets failed to excite customers.
To turn things around, Lego simplified its operations and recruited passionate designers dedicated to the brand. This new direction paid off. New sets, especially those tied to major franchises like Harry Potter, became a hit. The success of The Lego Movie series further boosted the company’s fortunes.
Today, Lego is the world’s largest toy company, and its biggest challenge is keeping up with the ever-growing demand.
Starbucks: Surviving the 2008 Financial Crisis
The 2008 financial crash hit many businesses hard, including Starbucks. Unlike some companies, however, Starbucks avoided government bailouts. Instead, the coffee giant turned to its former CEO, Howard Schultz, to restore its fortunes.
Schultz wasted no time. He encouraged customers to email suggestions for store improvements, retrained staff, and launched a fresh advertising campaign. He also placed a heavy emphasis on social media. While hundreds of underperforming stores were closed during this time, Starbucks emerged stronger than ever.
Schultz has since stepped down, leaving behind a rejuvenated company.
His successor Brian Niccol has already been criticised for commuting 1,000 miles from Florida to the company’s offices in Seattle – via private jet.
Need Career Advice? Get employment skills advice at all levels of your career
Jack in the Box: A Recovery After Tragedy
In 1993, a severe E. coli outbreak at Jack in the Box caused a crisis for the fast-food chain. The outbreak hospitalized over 175 people, some with permanent damage, and tragically, four children died after consuming contaminated burgers.
The incident led to a public relations nightmare and halted the company’s expansion plans.
To recover, Jack in the Box focused on stricter food safety standards and launched an effective marketing campaign.
Today, the chain thrives, with its signature tacos becoming a fan favorite. According to the Wall Street Journal, Jack in the Box now sells 554 million tacos annually.
Apple: From Bankruptcy to the World’s Richest Company
One of the most well-known corporate comeback stories is Apple’s. Two decades ago, the tech giant was on the verge of bankruptcy, losing $1 billion annually. Many predicted its downfall.
The company’s solution? Bring back its visionary founder, Steve Jobs. Under Jobs’ leadership, Apple launched revolutionary products like the iMac and the iPod.
These innovations marked the beginning of Apple’s turnaround, transforming it into the world’s most valuable company.
Marvel: From Comic Book Struggles to Movie Blockbuster Machine
Today, Marvel dominates the box office, but two decades ago, the company was teetering on the edge of bankruptcy. Marvel owned an impressive roster of iconic characters but struggled to leverage them effectively.
While DC Comics was raking in cash with Batman and Superman movies, Marvel floundered with underwhelming efforts like Howard the Duck. It wasn’t until the late 90s that Marvel found success on the big screen, eventually launching its own studios. The acquisition by Disney cemented its place as a major entertainment powerhouse, with Marvel churning out blockbuster after blockbuster.
Hiring? Post jobs for free with WhatJobs
From Crisis to Success
Each of these companies faced enormous challenges, but through innovation, leadership, and strategic decisions, they made remarkable comebacks. These stories highlight the resilience and adaptability needed to overcome even the direst situations.
