Some large companies that have gone bankrupt include Lehman Brothers, Washington Mutual, General Motors, Chrysler and WorldCom. Other large companies that have gone bankrupt include Enron, MF Global, Trump Entertainment Resorts and Six Flags Entertainment.Continue Reading
The financial crisis of 2008 and its aftershocks led to bankruptcies among some of the largest financial companies in the nation, including Lehman Brothers, which filed for bankruptcy in 2008. With a value of $691 billion at the time of bankruptcy, it was the largest company to go bankrupt in the history of the United States.
Other large firms that went bankrupt in the aftermath of the financial crisis include Washington Mutual, General Motors and Chrysler. Washington Mutual could not keep up with the pace of customers withdrawing funds. The credit crisis harmed Chrysler and GM as well, with the United Auto Workers taking control of Chrysler and returning it to profitability in only two years. Six Flags Entertainment went bankrupt around the same time in 2009. MF Global, another large finance company, went bankrupt years later in 2011 as a result of the European debt crisis.
Some smaller large companies that went bankrupt include Trump Entertainment Resorts. Donald Trump resigned as chairman of the board of directors just before the company filed for bankruptcy to eliminate its $1.25 billion debt. WorldCom and Enron are two large companies that famously went into bankruptcy as a result of fraudulent accounting and executive malfeasance.Learn more about Corporations