40. Men’s Wearhouse
A few decades ago, it was basically a requirement for professionals to wear suits to work. Dress codes were strict, and attending formal occasions demanded fancy attire. In today’s society, the scope of the workplace wardrobe as dramatically shifted.
Because millennials don’t work the typical 9 to 5 job, suits are no longer the most common uniform. A lot of younger people work in open offices that allow casual attire like jeans and button-down shirts. For millennials who work from home, they can wear whatever they want, even pajamas! This has led to companies like Men’s Wearhouse losing a lot of customers and a lot of sales.