Last year was hard for companies, but for some companies, it was even harder. Low or non-existent consumer demand, reduced spending and stay-at-home orders crushed many businesses. Even after the economy slowly started to reopen, social distancing norms kept most consumers away from the markets. This resulted in many companies going bankrupt, including some big names. Here are 10 big companies that went bankrupt due to the COVID-19 pandemic last year.

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Ten companies that went bankrupt due to COVID-19

Last year, companies from almost all industries, including clothing retailers, travel companies, oil producers and more, filed for Chapter 11 bankruptcy. For our list of 10 big companies that went bankrupt due to the COVID-19 pandemic, we have only considered popular household names. A point to note is that filing for bankruptcy doesn’t inherently mean that the company will shut down. Rather, it is more of a financial restructuring. Here are 10 big companies that went bankrupt due to the COVID-19 pandemic last year (the list is in no particular order):

1. NPC International Inc.

This company may not be a household name, but it does have a household connection. NPC International is the largest franchisee of Pizza Hut restaurants. It opened the first Pizza Hut in 1962. NPC operates over 1,200 Pizza Hut and more than 385 Wendy’s stores across the U.S. It is the second-biggest franchise operator in the U.S. NPC filed for Chapter 11 bankruptcy in July.

1. Hertz

Hertz struggled after the drop in travel due to the pandemic last year. The company's used car sales also witnessed a significant drop. This forced the car rental company to file for Chapter 11 bankruptcy on May 22. Hertz had about $20 billion in debt last year. The company is working on selling most of its fleet to pay its creditors.

1. CMX Cinemas

CMX Cinemas filed for Chapter 11 bankruptcy on April 25, 2020. This chain of movie theaters with dine-in options is owned by Cinemex Holdings. The company won the court’s approval to sell the chain to an affiliate and pay up to 15% of unsecured claims. CMX Cinemas entered the U.S. market in April 2017 and soon was in the top-10 circuit in the North American market.

1. Rubie’s Costume Company

This company that makes costumes, wigs and other festive gear filed for bankruptcy on April 30, 2020. Rubie’s claims to be the biggest designer and maker of Halloween costumes in the world. This company got new ownership after its Chapter 11 bankruptcy and became Rubies II LLC. Prior to this, it was a family-owned and operated business that has been in existence for about seven decades.