New Year's resolution, survival

Like many of us, some companies' New Year's resolutions are pretty simple: make it to the next new year intact, Nathan writes.

Why it matters: Although the U.S. economy looks poised to avoid a hard landing in 2024, a slew of businesses face potentially existential troubles of their own.

Threat level: Business bankruptcies were up 30% in the 12-month period ending Sept. 30, according to the federal court system, as spiking interest rates dragged down many wobbling companies.

• Among those that filed were WeWork and Bed Bath & Beyond — the former of which has survived so far, the latter did not.

Looking ahead, here are five businesses that can't afford a misstep in 2024:

• Rite Aid: The nation's third-largest drugstore chain filed for bankruptcy protection in October and faces an uphill climb to compete with CVS and Walgreens.
• Cruise: GM's self-driving car division suspended driverless operations in October amidst a safety crisis.
• JoAnn: The indebted arts and crafts retailer's stock plunged from about $3 at the beginning of 2023 to less than 50 cents at the end. With sales declining, the company had $1.15 billion in long-term debt and only $28 million in cash as of Oct. 28.
• SunPower: The rooftop solar panel installer warned in December that there's a "substantial" risk it won't make it as a stand-alone entity. The company is reeling from a slowdown in sales connected to the rise in interest rates.

• Nikola: The hydrogen electric truck maker is still trying to regain its footing after the downfall of its founder, Trevor Milton, who was sentenced last month to four years in prison on federal fraud charges.