Who went bust, and why. Plain English, with sources.
Which big companies went bust in 2026? In one year, 28 American companies with more than $1 billion on the books filed for bankruptcy. Getty Images, the photo library behind half the news, is in Chapter 11. Character.ai was worth $1 billion in 2023. Meritage, the company behind 314 Wendy's restaurants, wants to close up to 60 more. Zavvi stopped trading overnight and cancelled pre-orders. Every story below links to its sources.
Meritage Hospitality, one of Wendy's biggest franchisees, is in Chapter 11. It has already shut 33 restaurants since filing, and it wants to close up to 60 more by mid-November.
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That tiny credit under a news photo? Very often it says Getty. Now the company is in bankruptcy, after a wedding that got called off, very expensive debt and, of course, AI.
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Huge firms with more than $1 billion on the books keep falling over in America. Fewer than last year, but still more than normal. And one of them made the wipers on your car.
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The AI chat app that let millions talk to fictional characters filed for bankruptcy. Its founders had already gone back to Google with a big cheque. Now Disney wants the leftovers for $20 million.
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Your Star Wars steelbook pre-order? Cancelled. Zavvi, the UK pop culture shop born from the ashes of Virgin Megastores, stopped trading overnight. It's the second time it has gone bust in 18 years.
Read the full story →True Food Kitchen promised salads, grain bowls and feeling good about dinner. On 4 October it filed for bankruptcy with $42 million of debt and two weeks of cash left.
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Pat McGrath is the most famous makeup artist in the world. Her brand was once valued at over $1 billion. In January 2026 it walked into a bankruptcy court. In April it walked out with a new owner.
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