Big businesses that have gone bankrupt

Facing scandal, shrinking profits or other woes, these big-name firms have filed for Chapter 11 bankruptcy in recent months.

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A LightSquared booth at the Satellite 2011 Convention in Washington. LightSquared filed for Chapter 11 bankruptcy on May 14. The news comes after "the firm's plans for a broadband wireless network were thrown off track after the Federal Communications Commission decided to block the service" earlier this year, The Post's Hayley Tsukayama reported.

Jeffrey MacMillan / For The Washington Post

A file picture taken on Jan. 11, 2012, shows people visiting the Kodak display at the International Consumer Electronics Show in Nevada. U.S. camera pioneer Eastman Kodak, which brought photography to the masses over a century ago, filed for bankruptcy early on Jan. 19 after years of failing to keep pace with the digital age.

FREDERIC J. BROWN / AFP/Getty Images

Hostess Brands, the baker of Twinkie cakes and other iconic American foods, filed for bankruptcy protection In January 2012 after failing to win concessions on union contracts. Founded in 1930, Hostess makes treats such as Twinkies. The company claims its Wonder bread, a vitamin-enriched sliced bread, was the first 100 percent natural bread available across the United States.

Paul J. Richards / AFP/Getty Images

Saab Automobile, the 64-year-old Swedish carmaker that halted production in June, applied for protection from creditors in a bid to raise money to restart operations and avoid a bankruptcy petition by unions. Here, a Saab automobile is parked on a lot of a Saab dealership in Sweden.

Linus Hook / Bloomberg News

AMR Corp., the parent company of American Airlines, filed for bankruptcy protection in November 2010, seeking relief from crushing debt caused by high fuel prices and expensive labor contracts that its competitors shed years ago.

Nam Y. Huh / AP

MF Global Holdings filed for bankruptcy protection in fall 2011 as part of efforts to reorganize after making bets on European sovereign debt. The firm had been led by former Goldman Sachs executive and New Jersey politician Jon Corzine, who was grilled on Capitol Hill over millions of customer dollars that the company cannot account for.

Stephen Yang / Bloomberg News

Borders Group, the second-biggest U.S. bookstore chain, won bankruptcy court approval in February 2011 to liquidate 200 stores in a deal that may bring in $175 million to creditors.

Andrew Harrer / Bloomberg News

Sbarro, the pizza chain owned by buyout firm MidOcean Partners, sought bankruptcy protection in April 2011 after missing interest payments on its debt.

Jay LaPrete / Bloomberg News

Filene's Basement and its parent company, Syms, announced in November that it was headed for bankruptcy. The retail outlet plans to shutter all of its stores.

Kevin Clark / The Washington Post

Solyndra, the solar-panel maker that was backed by the Obama administration, filed for bankruptcy in September.

David Paul Morris / Bloomberg News

Massachusetts-based restaurant chain Friendly's filed for Chapter 11 bankruptcy protection in October 2011 as it struggled to deal with sluggish sales and rising food prices.

/ AP

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Business

Big businesses that have gone bankrupt

Facing scandal, shrinking profits or other woes, these big-name firms have filed for Chapter 11 bankruptcy in recent months.

Featured Photo Galleries