Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed b
Businesses that file for bankruptcy may have a "store closing" sale to liquidate their stock, such as this Drug Fair.
Failure of John Law's Mississippi Company led to French national bankruptcy in 1720.
In 2013, Detroit filed the largest municipal bankruptcy case in U.S. history.
Number of personal and business US bankruptcy filings by year.