🠈 Notable Failures 🠊
A huge number of businesses failed in the last few years. I was really surprised that the economy took out Lamb's Grill. This site billed itself at Utah's oldest restaurant. As I was deleting the link, I decided that I should start recording business surprising business failures.
- 2018: Rust Rare Coin was a dealer in coins and collectibles that was founded in 1966. Alvin Rust was one of the victims of Mark Hoffman's forgery efforts. The company sold $170 million in a "silver pool" that was closed by the SEC and CFTC with claims that it was a ponzi scheme.
- 2017-06-04: Cowboy Grub was an eating establishment by Boyd and Arleen Summerhays that served western fare for 35 years. They closed their location at 3336 S 2300 E in 2017.
- 2017-05-01: Lamb's Grill at 169 S. Main Street in SLC billed itself as Utah's oldest restaurant. A mix up on its liquor license application caused the struggling grill to pay a fine and build a stupid Zion's Curtain forcing it to close. Usually things billed as the first find a buyer. The restaurant opened in Logan in 1919. It moved to SLC in 1939. It closed just shy of its centennial year.
- 2016-03-??: Miche Bag sold hand backs with a changeable shell. This way you can change your bag to match your current outfit. They closed shop in March 2016. A really odd thing. Their suppliers are still making the bags and selling them in Canada and Europe.
- 2015: MonaVie was a MLM that started in 2005. It sold a fruit drink with outlandish health claims. There were dozens of lawsuits and the company defaulted in a $182M loan. A company called Jeunesse of Florida bought the domain.
- 2013-09-15: Naartjie Kids was founded in South Africa in 1989. Their US headquarters were in Salt Lake.
- 2013: Old Glory Mint was a project by National Note of Utah to make precious metal bullion rounds. It was promoted by local politicians with hopes that Utah could be come a center for creating alternative currencies. The mint failed to deliver orders to Mulligan Mint. Old Glory failed by 2012 with allegations it was a ponzi scheme and engaged in fraud (DOJ Report. It probably had an MLM.
- 2002: Tenfold was a company that thought it could automate the software development process. The company involved Jeffrey L. Walker and Gary Kennedy from Oracle. The company moved to Utah to attract programming talent from BYU. They were very good at selling people on their company but lousy at delivering software.
Prev ~ ~ Index ~ ~ Next