bankruptcy
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Stockton Goes Bankrupt

Jun 27, 2012
Stockton, Calif., a city of nearly 300,000, is slated to become the largest U.S. city ever to file for bankruptcy after the City Council approved a new budget that calls for defaulting on debt payments and slashing millions in pay and benefits for employees and retirees.

Borders Will Liquidate Remaining 399 Stores

Jul 19, 2011
How did Borders go from being the nation's second-biggest brick-and-mortar book chain to a bitter memory? Apparently the book, music and coffee peddler, which we can only assume bankrupted plenty of mom-and-pop stores in its day, charged ahead blindly when customers went looking for better deals online. And now 11,000 people are out of a job. (more)

Chilean Mine Company Goes Belly-Up

Nov 28, 2010
The company that owns the now-infamous mine where 33 Chileans were rescued after two months underground has agreed to liquidate its assets, avoiding bankruptcy. Much of the money will go to pay miners idled by the disaster and to compensate the government for rescue efforts.