No matter the size of a company or the kind of industry that they operate in, there are going to be times when they find themselves in difficult circumstances and sometimes, this can lead to liquidation. A lot of people think that if a company goes into liquidation then that company will cease to exist moving forward; however, this does not necessarily have to be the case. There are many different instances where a company has come back from the brink of liquidation or has been rebuilt after liquidation. When you work with the right people throughout the liquidation process, there is no denying that you may well end up being successful afterwards. This article is going to talk in more detail about some organisations’ success stories after it looked like they might have to close their doors forever
Marvel Entertainment
You will have likely heard of Marvel by this point, they are one of the biggest names in entertainment, shattering multiple records both in terms of their comics, books, movies and even rides. As such, it’s hard to think that they are a company who were once in big financial trouble, but that’s exactly what happened. Back in 1996, the situation with Marvel became so bad that they ended up having to file for bankruptcy. At this point, the company didn’t really dabble in TV or film and as such, simply wasn’t the money-making giant that we’re aware of today. It focused primarily on comic books, which despite being popular, didn’t make the same amount. These days, Marvel’s properties are worth billions and they have fans all over the world who support every single release. It just goes to show that despite a company going through hard times, that doesn’t necessarily mean that the company will end up closing
Six Flags
This is a company that predominantly operates in the States but because of its popularity, people from all over the world have heard of it. Six Flags is a theme park operator and amusement park company that have over 27 different theme parks and water parks dotted all over America. It is famous for being able to provide fun family days out and also satisfy thrill seekers given it houses some of the largest and fastest roller coasters in the entire world. Like its rides though, the company has also had ups and downs, as back in 2009 it had to declare bankruptcy with debts totalling more than $2.7 billion. It wasn’t in a position to pay these debts back and a lot of people thought that could be the end of the adrenaline giant; however, it was able to reorganise and eventually emerged from bankruptcy later in 2010.
Sbarro
Sbarro is popular given it operates in a number of different fast-food places across the world. It predominantly sells Italian-style fast food and is a great option for anyone keen to grab a quick bite. This company has been bankrupt twice but is still in operation today. The first instance was in 2011 and the second was in 2014, both times were followed by reorganisation so that the company could emerge from bankruptcy and then continue operating. It has also recently started working with a private equity firm that it’s collaborating with. The plan is to transform the company’s image as a whole to a much faster and casual style of eatery in the hope of a quicker turnover and attracting more people.
Apple
Yes, what is now one of the biggest, most successful and most profitable businesses in the world was under proper threat of closure. Apple never actually had to file for bankruptcy, but it was very close to doing so back in 1997 when the whole company was teetering on the brink of collapse. What saved them? Surprisingly, it was one of their main rivals, Microsoft, who swept in and invested a further $150 million in order to save the business. There are a number of potential reasons why Microsoft might have decided to do this but one of the most popular theories is that Microsoft may have been worried that regulators would have considered them to have a monopoly over the market if it didn’t have the competition from Apple. This is likely the case as even now, with an increased number of tech companies in operation throughout the world, there is no getting away from the fact that Microsoft and Apple are the two giants of the industry.
General Motors
General Motors are one of the largest car manufacturers in the whole world but even organisations of this size fell victim to the perils that followed the financial crash of 2008. They had to file for bankruptcy as a result of the money troubles they faced after the crash but were immediately bailed out by the federal government. The government remained an investor for a few years before completely exiting in December 2013. They originally invested $51 billion but in total were only able to recover around $39.7 billion.
Is Your Business in Need of Help?
A lot of businesses are going to find themselves in difficult financial times. This can be because of the way the business is being run or as the result of circumstances completely beyond the organisation’s control. What is important to remember is that just because your organisation might be in a difficult position now, does not mean it can not come back from it, and the likes of Apple, Marvel and General Motors are all proof of that.
As such, if you are currently on the brink of liquidation and would like some help on how to reorganise then be sure to reach out to the likes of Simple Liquidation. At Simple Liquidation, our team of experts will sit down with your business in order to find out more about what you do and what your situation is, before providing advice on how to effectively move forward. If you have any questions or require any further information then do not hesitate to get in touch.
