Bankruptcy is a scary step, but the fresh start afterwards allows both companies and individuals the opportunity to grow and thrive once again. Filing for bankruptcy protection doesn’t mean you are doomed, or that you have failed; it just gives you the chance to reorganize and build on your remaining strengths as best you can. The businesses below filed for bankruptcy for a variety of reasons and emerged from the process stronger than ever.

Companies that Survived – and Thrived – After Bankruptcy

Hugo Boss

A couture shop for men in the 1930’s, the European strife and upheaval caused by World War II caused this fashion house to go bankrupt in the early 1930’s. The company’s founder, Hugo Boss, reestablished the firm in the war years and ran it until his death in 1948. His heirs continued the legacy and today, the Hugo Boss line can be found on runaways and in department stores around the globe.


The company that made photography accessible to everyday people, not just artists and professional journalists and photographers, filed for bankruptcy protection in 2012. Citing huge legacy costs (read old debts and commitments), the company remained in bankruptcy for 20 months, restructuring and resurfacing as a much leaner and more dynamic business.

Reader’s Digest

You can’t visit a doctor’s or dentist’s office without coming across one of their monthly magazines, and the publishing company’s condensed books are a constant presence at garage sales and second hand book stores. Despite the long history, instant name recognition and high visibility, Reader’s Digest filed for bankruptcy protection in 2009. The company was plagued by the problems common to the print magazine industry, mainly the rise of eBooks and e-pubs. After several months in bankruptcy, the publisher reemerged with a streamlined lineup and a more realistic menu of options for advertisers.

Sometimes external pressures and factors beyond your control lead to the need to file for bankruptcy; it is possible to spring back, stronger than before. Whether a war has arrived on your doorstep, you’ve been made obsolete by new technology or need to get out from under old debt, bankruptcy can help. These companies, and many like them, including Marvel Comics and General Motors not only survived bankruptcy, but began to thrive again after the proceedings – and you can too. Contact us or follow our blog to learn more about your bankruptcy options and the potential benefits of filing bankruptcy now.