Bankruptcy: A Safety Net for Businesses

By admin • June 17th, 2011

Some of the largest, most powerful businesses in the United States rely on a very effective tool to maintain their status. This tool is called Bankruptcy. The majority of businesses will find themselves in an unfavorable financial situation at least once throughout their existence. Some of these companies will be able to get back on their feet, while the others will fade away.

One very powerful way a business can regain control of their finances, as well as reclaim their success, is to file bankruptcy. A Chapter 11 Bankruptcy helps a business reorganize their debt. This reorganization will make payment plans more affordable, reduce their debt, and in turn give the company a financial fresh start. Below is just a few prosperous businesses that at one point decided to turn their financial hardships around by filing for bankruptcy.

  • Aloha Airlines
  • America West Airlines
  • Dodge
  • Rolls Royce
  • Pontiac
  • Sears
  • Stanley Steamer
  • May Company
  • Mervyn’s
  • Robinsons – May
  • Merrill Lynch
  • Shearson / American Express
  • Wachovia Securities
  • Disney Magazine
  • Life Magazine
  • Warner Bros. – Seven Arts
  • Warner Communications
  • New York Herald Tribune
  • Los Angeles Herald
  • Texaco
  • Blockbuster
  • Crown Books
  • Levitz Furniture
  • Linens n’ Things

 

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