Unbelievable Success Stories of People who Declared Bankruptcy - The Law Office of Michael A. Ziegler, P.L.

Unbelievable Success Stories of People who Declared Bankruptcy


December 30, 2016

If you are looking for a bankruptcy attorney, you probably feel as if you’ve come to the end of the road. Bankruptcy is a last resort for many people. Declaring bankruptcy can leave you feeling discouraged about your future. But bankruptcy can also be a new beginning. Here are some unbelievable accounts of people who declared bankruptcy and went on to become wildly successful.

Looking For a Bankruptcy Attorney? You’re in Good Company with These Successful People

Walt Disney

Chances are you know who Walt Disney is, but just in case, here’s a little background. Walt Disney is a famous cartoon Creator well known for creating Mickey Mouse, the Disney movie collection, and the entire Disney industry which resulted in two major theme parks. What you may not know is that Walt Disney declared bankruptcy in 1920, after one of his main clients filed bankruptcy. Disney’s first animation company called the Laugh-O-Grahm Studio was located in Kansas and was intended to make animated Fairy Tales much like the Disney movies you think of when you think of Disney classics. Laugh-O-Grahm had a financial backer in New York, and Disney began building up his staff. However, the backing firm went broke, and Disney was no longer able to pay his employees or his debts. Disney filed bankruptcy and lost Laugh-O-Grahm Studios.

HJ Heinz

Heinz, with two partners, begin a horseradish company when Heinz was just 25 years old. In 1875, the Enterprise went bankrupt behind continued to create condiments. The very next year Hines, his brother, and a cousin started a brand new company and made catch up. We now know today that the Heinz company has over ten billion dollars in revenue.

Larry King

Larry King was in debt over $350,000.00 before he became an American radio and television star. The same year he filed for bankruptcy, he began his career as a radio and television host. This career lasted 25 years and made him a household name.

Henry Ford

This creator of the Ford enterprise was not always at the top. Two of his business ventures in the early 20th century failed miserably, causing him to file for bankruptcy. When Ford launched in 1903, however, he became an overnight success, starting the now multi-billion dollar company with only $30,000.00.

Milton Hershey

Milton Hershey spent four years as a candy shop apprentice, then went out on his own in 1876. Unfortunately, his shop went under only six years later. Determined to still make it, he developed the Lancaster Caramel Company, known for the process of using milk in caramel. That company flourished, and he turned around and sold it, using the funds to develop and perfect the milk chocolate formula we all know and love today.

Filing for bankruptcy can give you a fresh start when you have nowhere to turn. If you’re overwhelmed and feel like you need a new beginning, find a bankruptcy attorney near you.

Source: Biography.com

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