Bankruptcies on This Day in History

Top 10 Companies That Went Bankrupt

This Day in History: General Motors filed for Chapter 11 bankruptcy on this day in 2009, making it the fourth largest United States bankruptcy in history. The largest was Lehman Brothers in 2008 with total assets pre-bankruptcy in the amount of $691,063,000,000. The second largest was Washington Mutual with $327,913,000,000 in assets. The third largest was Worldcom in 2002, and rounding out the top 5 was CIT Group in 2009.

On an interesting sidenote, the American Journal of Medicine says over 3 out of 5 personal bankruptcies are due to medical debt.