It can. Not just because of loss of sales or income, but politicians and regulators may decide to intervene if they feel that you are not up to the job of not only putting right what’s gone wrong, but ensuring that it never happens again.
Depending on the sector, things can differ quite a bit in terms of compliance, legislation, public sentiment and other details. B2B sectors are not as sensitive to emotional factors like the consumer sectors when making purchases, but there’s a lot of emphasis on ROI, for example. Similarily, there’s a large subset of technology consumers financially empowered and willing to drive test emerging solutions, but the same cannot be said about the healthcare industry.
Crises can severely reduce an organisation’s chances to compete and ignored crises can definitely lead to complete shutdown.