, most previous studies have failed to distinguish between bankruptcy and liquidation. We hence contribute to the exit … literature by showing that bankruptcy, voluntary liquidation and M&A are fundamentally distinct exit routes for distressed firms … show that 41% of the firms in our sample exit through a court driven exit procedure (mainly bankruptcy), 44% are …

Of the large, public companies that seek to remain in business through bankruptcy reorganization, only 70% succeed. The … companies' survival prospects. First, a company that even hints in the press release announcing its bankruptcy that it intends …

. The bankruptcy and liquidation of a retail chain weakens the economies of agglomeration in any given local area, reducing …