Bankruptcy

When an organization or a company is on the brink of spending all its money or being a failure, it will certainly file for bankruptcy protection. This will allow the company to go through resettlement and reorganization of business affairs, all of its debts and all of its assets as well. A lot of companies that declare bankruptcy usually settle up with the creditors and then end up closing permanently. Worldcom, Enron, and also Lehman Brothers are some companies that actually never came back. This just proves that money is that one thing that decides the future of so many companies that are in trouble. Some companies actually managed to bounce back after declaring bankruptcy. Their re-emergence actually provided a ray of hope to the other companies that were on the brink of it. Below, we have provided a list of some companies and brands that had some of the most spectacular comebacks from bankruptcy. You will be surprised.

Apple. Inc:

It is indeed incredibly hard to believe that the planets most valuable and also most massive company when it comes to market capitalization was once in a very tough and dire situation. They actually never filed for bankruptcy but they were on the brink of it in the year 1997. At the last minute, the company Microsoft came in with a $150 million investment and saved them from being shut down. Ever since then, Apple has seen nothing short of complete and utter success. Right now, they make the world’s best phones, tablets, and PCs.

Another amazingly surprising entry on the list is Marvel Entertainment

With a worldwide phenomenon like Avengers, we can’t believe that this company filed bankruptcy in the year 1996. Now they make movies like Spider-Man, Avengers, Iron Man, Guardians Of The Galaxy, etc. that make billions of dollars in the worldwide box office. This dire situation happened when they hadn’t started making movies yet; they were focused entirely on comic books. Now they are one of the wealthiest companies with the love and admiration of everyone that reads their comics and sees their movies.

Six Flags

is another entry that surprises us because they are a well-known amusement park brand. They are also home to some of the biggest rollercoasters on the planet. In the year 2009, they declared bankruptcy because they had $2.9 billion worth of debt that they weren’t able to pay back. But they have bounced back since then.

General Motors

General Motors

filed for bankruptcy, following the financial crisis of 2008 and also the Great Recession. They were in deep trouble in 2013, and they were bailed out of it by the federal government.

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