This post is part of a series on some of the most memorable companies that have disappeared.
Don't we all remember the DeLorean Motor Company? To those that were market watchers or just fascinated auto industry types in the 1980s, you'll remember the DeLorean. Many of us remember the car used in the Back To The Future films, which was the trademark stainless steel DeLorean. The DeLorean Motor Company was formed in 1975 by auto executive John DeLorean, whose stainless steel, gull-wing door sports car model became the image for the entire company.
John DeLorean, who became the youngest executive ever at General Motors Corp. (NYSE: GM) before launching his own auto company, was known as a capable engineer and businessperson. The DMC-12 sports car, which was stainless steel and thus all looked alike (could not be painted) suffered from lack of actual demand, even with a huge amount of publicity. In 1982, the DeLorean Motor Company went into receivership and bankruptcy as a result, just seven short years after being formed. Some 2,500 jobs and over $100 million in various investments went down the drain when the DMC went out of business in 1982.
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