A slew of big-name businesses have hit the skids for a wide variety of reasons ranging from legal and regulatory setbacks to a failure to adapt to changing consumer tastes. How they respond to their respective problems could determine whether they survive and thrive or suffer and even collapse over the next 12 months. Here are 15 companies that are in for a particularly difficult 2020.

Another year, another barrage of bad news for the world's largest ride-hailing company. Since it went public in May, Uber's share price has tanked almost 30% and while the firm beat Wall Street expectations in its third quarter, it nonetheless reported over a billion dollars in losses, adding to the $6.2 billion (£4.8bn) the business haemorrhaged during the previous two quarters ($1 billion in the first quarter, and $5.2 billion in the second). 

Uber has a plethora of problems on its plate, none of which are likely to do the share price any favours in the year ahead. The global company has experienced several legal setbacks, and in November 2019 lost its licence to operate in London, the company's leading European market, due to safety breaches. It is also being called on by some US cities to pay drivers a hefty minimum wage, and in India there is a possible commissions cap in the pipeline. This is nothing new for the taxi app which has previously been forced to leave countries such as Denmark in 2016 after a ruling that all taxis need to have a fare meter and Hungary in 2016, among others. Uber even pulled itself out of China in 2016 after making huge losses in the country. Whether Uber will reach profitability by 2021, as promised by its CEO, remains to be seen.

The past 12 months have been nightmarish for co-working company WeWork. Despite losing $2 billion (£1.5bn) in 2018, the real estate industry disruptor was valued at a stratospheric $47 billion (£36.2bn) in January ahead of its planned October IPO. Yet following the firm's S-1 filing with the SEC in August, the valuation and IPO were dismissed as hot air and WeWork crashed down to Earth with a thud.

The filing revealed major holes in the profitability of the business model as well as the management style of CEO Adam Neumann, and a whopping 80% was slashed off the firm's value. The IPO was postponed and Neumann got his marching orders. While major backer SoftBank has stepped in with a bumper rescue package, WeWork is shedding 20% of its workforce to stave off bankruptcy and is in for a very tough 2020 indeed.

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ByteDance's TikTok app has taken the world by storm, amassing more than a billion users worldwide. But a storm is brewing that threatens to rain heavily on its parade. American intelligence officials are currently investigating whether the Chinese viral video app poses a threat to US national security, and authorities in the country could very well force ByteDance to offload it.

Separately, the US Congress held a hearing in November on censorship and other concerns posed by Chinese apps. TikTok was widely panned recently for blocking a user who criticised the Chinese government for its mistreatment of minority Uighur Muslims. The app is also the subject of a class-action lawsuit filed in California alleging TikTok "clandestinely" harvested user data and transferred it to servers in China. Competition from similar apps is also intensifying, adding to ByteDance's woes.

Royal Mail is set for a perplexing year ahead. Shares in the UK postal operator, which was fully privatised in 2015, fell to record lows in November after the company announced a significant drop in profits and warned of a precipitous decline in letter volumes in the UK during the second half of 2020.

Efforts to transform Royal Mail into a parcels rather than letters-focussed operator are behind schedule and chief executive Rico Back has advised that the UK business could be loss-making within a year. And although the company has managed to avert a planned strike this Christmas by winning a High Court injunction, the threat of industrial action, which could be extremely damaging for the firm, is ever present.

Kraft Heinz stock nosedived in February after the packaged foods titan reported a huge drop in earnings and was forced to write down the value of its Kraft and Oscar Meyer brands. Making matters even worse, the company revealed that it was being investigated by the SEC for accounting irregularities. Additional brand write downs have followed and the firm's share price has been in the doldrums all year-long.

In September major investor Brazilian private equity firm 3G Capital sold off 25 million shares, causing shares to drop by 4%, and two months later Goldman Sachs downgraded the firm. The firm's largest investor remains Berkshire Hathaway, led by Warren Buffett (pictured), which owns 26.7% of Kraft Heinz and seems to want to hold onto its investment. Yet the condiment maker is grappling with changing tastes as consumers eschew its processed products for healthier alternatives. The company has appointed a new CEO Miguel Patricio and rehired former CFO Paulo Basilio to turn things around and what they do in 2020 will prove crucial.

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US cosmetics giant Revlon has reported falling overall revenues for some time now. During the most recent quarter sales were down a painful 8.9%. Revlon is gradually losing market share to online-only and luxury brands. Tellingly, Elizabeth Arden, the relatively high-end brand Revlon snapped up in 2016, is the only division that is doing well.

Reflecting the corporation's issues, Revlon stock is trading at the time of writing at a disappointing $24.41 (£18.79), down from $35.05 (£26.98) in February 2017. The group has responded to the slump by beefing up its e-commerce, travel retail and China operations but it's doubtful this will be enough to rejuvenate the business, which is crying out for a makeover.

Bayer's acquisition of controversial agrochemical firm Monsato last year has proven to be an unmitigated disaster for the German pharmaceuticals conglomerate, battering both its reputation and bottom line. Bayer inherited a multitude of lawsuits surrounding Monsanto's glyphosate-based weedkiller Roundup, which is allegedly linked to cancer.

As of 11 October, 42,700 plaintiffs are suing Bayer. The litigation has reportedly cost the conglomerate more than $30 billion (£23.1bn) so far. The group's stock has recovered somewhat since January, and while sales were up 6.1% in the third quarter of this year compared to the same quarter last year, profits were down more than 60%. The ongoing crisis has led to speculation Bayer may have to break up, separating its agrochemicals and pharmaceuticals businesses.

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The so-called retail apocalypse has claimed countless victims around the globe. Gap Inc. is one of the numerous businesses struggling with declining sales particularly in its brick-and-mortar locations with consumers increasingly moving online and ditching the company's Gap, Banana Republic, Intermix and Hill City brands for more budget-orientated alternatives. Even Gap's once-star Old Navy, the retailer's most profitable concept, is dealing with falling sales.

Gap Inc. stock has been flagging as a result. The group is attempting to reverse its fortunes by shuttering 230 stores and spinning off Old Navy. However, the split, which is planned for next year, has been thrown into doubt following the departure of CEO Art Peck (pictured), who was ousted in November. Some analysts have questioned whether it will ever come to pass, despite Gap Inc's insistence that it will.

British banknote provider and passport maker De La Rue, which has been in business for almost two centuries, is in dire straits. Despite having lucrative partnerships with 140 central banks to print money, the UK company reported a pre-tax loss of $15.7 million (£12.1m) and a massive drop in profits for the six months prior to late September. Myriad issues are plaguing the venerable firm.

Last year De La Rue lost its plum UK passport contract and had to write off a hefty debt owed by Venezuela's central bank. Compounding its problems, the company is being investigated for suspected corruption relating to its activities in South Sudan. Needless to say, the De La Rue share price has been in freefall for months. The firm has responded with an ambitious restructuring and cost-cutting plan, but if the turnaround is unsuccessful, chances are it could collapse.

The parent company of Victoria's Secret and Bath & Body Works, L Brands, has seen its share price fall significantly this year. The problems lie with Victoria's Secret as Bath & Body Works is actually growing. Sales in the lingerie chain's physical and online stores have declined since the fourth quarter of 2016 and show no sign of recovering any time soon. L Brands has even gone as far as to cancel this year's Victoria's Secret show due to last year's lacklustre ratings.

The show has come under fire for sexism, perpetuating unattainable beauty ideals and for failing to foster diversity and inclusivity, making it seem distinctly old hat. But the cancellation of the catwalk does point to a change in the chain's marketing strategy as does the replacement of the brand's chief marketing officer, which was a wise move since Victoria's Secret will have to get with the times to regain its relevance and boost sales.

The number one healthcare company on the planet, Johnson & Johnson is well-insulated from calamities thanks to its sheer size and diverse range of products. Still, the firm is having a difficult year and its share price has fluctuated as a consequence. The business is fighting thousands of lawsuits which allege that its products, including its signature Baby Powder, have caused cancer and mesothelioma.

The company has also been sued for its role in the US opioid crisis and was recently ordered to pay $8 billion (£6.2bn) in damages for neglecting to warn that the anti-psychotic drug Risperdal could cause male breast growth. The firm's legal troubles are likely to intensify in 2020. On top of all this, Johnson & Johnson has dropped several spots on Interband's Best Global Brands list, and is also dealing with patent losses that have shaved $2 billion (£1.5bn) off sales this year.

Israel's Teva Pharmaceuticals, which is the world's largest generic drugmaker, is in considerably worse shape than Johnson & Johnson. Its share price has plunged since 2016 as the company has become embroiled in litigation hell. Like Johnson & Johnson, Teva has been fighting multiple lawsuits over its role in the US opioid crisis and has put aside billions of dollars to settle the various cases.

The company is also wrestling with generic pricing pressures and a price-fixing lawsuit brought by 44 US state attorneys. Teva's debt levels are another cause for concern. Given all these problems, Biopharma Dive has declared that Teva is at high risk of bankruptcy next year. Be that as it may, Teva is poised to debut 40 new generic products next year, which should provide a much-needed boost for the embattled firm.

Adding to the multitude of traditional retailers that are struggling to thrive, US department store chain Kohl's is having a hard time adapting to the new normal. Though the retailer has introduced a number of innovations, including a collaboration with Amazon that will enable customers to return online purchases in its stores, Kohl's announced the closure of several off-price locations back in June and more recently, reported gloomy results for its third quarter.

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The company share price, which stood at $67.80 (£52.20) in early January, plummeted following the earnings report, which fell short of analysts' expectations, and is now 32% lower than it was at the beginning of the year, much to the chagrin of investors. And so, 2020 is likely to be a tricky year and major changes will be needed for the Midwestern chain to regain its mojo.

Teetering on complete collapse, Alitalia hasn't made a profit for an incredible 15 years and is reportedly burning through €700,000 ($775k/£590k) a day. Italy's loss-making national airline, which has been hit hard by high fuel costs and competition from both budget and high-end airlines, went into administration in 2017, and the latest attempt to rescue the airline failed dismally after a consortium of possible buyers declined to make an offer.

The Italian government has ploughed billions into the airline. Shockingly, the money spent could have bought six airlines including Air France and KLM according to consumer’s rights association ADUC. As it stands, Alitalia's future looks bleak. If a buyer isn't found in the next few months and the government decides against nationalisation, the airline is likely to be liquidated.

British retail group Arcadia has had a tumultuous 2019. The company, which counts key high-street names such as Topshop, Burton and Dorothy Perkins among its portfolio, posted losses of $179 million (£138m) for the year preceding September along with a 4.5% drop in turnover as growing competition from online retailers and rising property costs eat away at the firm's bottom line.

The group was saved from bankruptcy in June after entering into several company voluntary agreements (CVAs) that have involved rent cuts, the closure of 48 stores and 1,000 job losses, but Arcadia owner Sir Philip Green continues to have his work cut out reviving the beleaguered firm, which has been marred by years of underinvestment.

Now find out how companies facing a make-or-break in 2019 fared