Our business lives are busy so sometimes the simple administration tasks do get forgotten about. Domain name renewals are one of these tasks that can sometimes get forgotten about. This is easy to forget, as it generally only happens once every year or two.
Without your company’s domain names, you will have no presence on the internet. Your customers will use your website to get your address or telephone number. If they can’t get to your website, they may not be able to contact you. Your business email would also cease to be delivered to your inbox.
This is what recently happened to a large American marketing company. (https://www.theregister.co.uk/2017/07/26/marketo_forgot_to_renew_domain/)