Q:

How do you find information on businesses no longer in operation?

A:

Quick Answer

Visit the ABC News and Bankruptcy Data websites to search for a company or browse news related to companies involved with bankruptcy or no longer in business. These websites offer news headlines, videos, and additional details about company operations.

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Full Answer

The Bankruptcy Data website offers a search feature to browse the major bankruptcies since 1986. Enter a company name and additional search features including total assets, business type and bankruptcy start date. An alphabetical index of major bankruptcies is also available. After completing all search criteria, the results list the company name, business description and bankruptcy filing date. When clicking on a company additional reports as well as legal documents are available for purchase. The headlines section of the website also provides information about some of the most recent bankruptcies and the operational status of the associated companies.

The ABC News website is grouped into a News and Videos section, providing information on both Chapter 7 and Chapter 11 bankruptcy. Chapter 7, known as straight bankruptcy, allows debtors to discharge unsecured debts, including personal loans and credit cards. Chapter 11 bankruptcy relates to individuals and business owners. Those filing for this bankruptcy aim to restructure their debts and business operations with the intention of eventually becoming financially stable.

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