Change is the mother of innovation — but not every change is always for the better. Most people have been there — an awful haircut, some questionable glasses, maybe a poor choice in wardrobe — but when a company decides it’s time to shake things up a bit, the results can be even more disastrous.
GOBankingRates decided to relive some of the worst company makeovers ever — breaking down where these companies went so, so very wrong.
Flop No. 1: The SciFi Channel
Known as a paradise for science fiction buffs and fantasy fanatics, the SciFi channel promised viewers a healthy dose of the strange, wild and extraterrestrial with staples like “Fringe” and “The Twilight Zone.”
In 2009, someone got the great idea to completely implode the entire concept behind the SciFi channel by tossing the SciFi name out in favor of Syfy — trading the entire brand of the channel for a slightly more search engine-friendly name.
Time declared it one of the top 10 worst corporate name changes — the name even translates to “syphilis” in Polish. The company’s latest 2017 rebrand tried to right the ship after the major misstep, pulling SyFy back to its roots and trading the action flicks and wrestling content for a familiar fantasy and sci-fi flavor.
Flop No. 2: Myspace
When it first launched in 2004, Myspace became the pinnacle of online culture, launching the concept of social networking to the masses and dominating the industry to the point where “Myspace Tom” was one of the most recognizable images of the early 2000s.
These days, Myspace is still alive — somehow. The website endured a series of identity crises — and a massive data breach — seeing an audience of 15 million monthly active users in comparison to Facebook’s 2 billion-plus.
Flop No. 3: RadioShack
RadioShack is a study in when being steadfast can actually cripple a company. In existence since the early 1920s, this electronics business was the top spot to find all your gadgets and gizmos for generations — until IBM, Apple and Dell decided to change the game and RadioShack refused to follow suit.
They tried to rebrand as “The Shack” in 2009 in an attempt to redefine themselves, but they pushed out the electronics hobbyists that made them who they were — which led to bankruptcy filings in 2015 and 2017 and forced massive store closures. As of March 2018, only 28 RadioShacks were in operation — down from 5,200 in 2014.