Marvel filed for bankruptcy in 1996.
Marvel Entertainment filed for bankruptcy in 1996 due to declining comic book sales, according to The Wrap. By merging with Toy Biz and selling the film rights to characters like Spider-Man and the Fantastic Four, the company managed to get back on its feet. Disney went on to purchase Marvel for $4 billion.
Converse filed for bankruptcy before being bought out by Nike.
Delta Air Lines filed for bankruptcy in 2005 and spent a year and a half restructuring.
Six Flags filed for bankruptcy in 2009 and eliminated its debt a year later.
next slide will load in 15 secondsSkip AdSkip AdIt seemed like Hostess was closing for good in 2012, but the beloved brand is back.
American Airlines was profitable just three years after declaring bankruptcy.
General Motors filed for bankruptcy at the height of the worst financial crisis since the Great Depression.
The Chicago Cubs filed for bankruptcy in 2009.
The Ricketts family acquired a 95% stake in the Chicago Cubs for $845 million in 2009. The Cubs went on to win the World Series in 2016, their first World Series victory since 1908. The Ricketts family then paid Tribune Media $107.5 million for the remaining 5% in 2019, putting the team's worth at $2.15 billion, according to the Chicago Tribune.
Betsey Johnson filed for bankruptcy and closed all 63 stores in 2012 before relaunching her fashion brand.
Betsey Johnson had planned a massive expansion during the 2008 financial crisis. Instead, the company ended up $4 million in debt. Steve Madden acquired the Betsey Johnson brand in 2010, and Johnson has since revamped her fashion line to focus on lower-priced items to be sold in department stores.
next slide will load in 15 secondsSkip AdSkip AdImperial Sugar filed for bankruptcy in 2001.