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The Biggest Bankruptcies in Corporate History
By siliconindia
Fremont: The truth is bankruptcy is not a decision to be taken lightly; it must be considered as last record. Several big global corporates had to declare bankruptcy due to different reasons. Going bankrupt can be harrowing, but when time makes you stand in the middle of it, you have no other option. The companies mentioned below also fell prey to certain condition and declared themselves bankrupt.
Lehman Brothers Holdings
Known as one of the largest bankruptcy filing in its sector, Lehman Brothers Holdings was a global financial services firm declared is bankruptcy in 2008 after being in the center of a subprime mortgage collapse. The investment bank fell prey to the credit crisis of 2008. After a failed search for buyers and no help from the U.S. government, Lehman collapsed.
