Remember Circuit City, Woolworths, Linens 'n Things and Sam Goody? Each of those retailers was once a powerhouse in their respective slivers of the retailing world. But time and competition eventually caught up with - and overwhelmed - those once-great shopping venues.

That can and likely will happen to other retailers in the future. The very nature of the retailing industry is a competitive chase for a limited number of consumer dollars. Many companies think they have something unique to offer shoppers, but the reality is not enough of them do. Some, in fact, miss the boat so badly or lose touch with consumers for so long that they have no choice to close up shop in years to come.

Here's a look at 12 retailers that may suffer the same fate. Each suffers from a lack of customers, a lack of money, a lack of viable prospects or a combination of some or all of those issues. Thus, it would not be surprising if these companies eventually made their way into the annals of retail stores that "used to be."

To be sure, it's possible that any of these companies could dig their way out of dire straits, generating large returns for loyal investors, so shareholders should consider our picks and make their own conclusions. But remember: It's better to jump off a sinking ship a year early than a year late.

Sears

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Sears Holdings' (, $2.29) annual revenues have fallen every year since 2007. Its few remaining supporters may argue that shrinking sales), the Lands' End () brand and Orchard Supply hardware stores, just to name a few.