The company filed for bankruptcy in January 2009 and had received about $2.3 billion in federal bailouts. The bankruptcy of the Pacific Gas and Electric Company is one of the largest bankruptcies ever to befall a major US company. While news is buzzing about the country’s largest utility giant PG&E filing for Chapter 11 bankruptcy, its demise—and debt—is still a far cry from other notable ones in history. After a nearly $4 billion accounting scandal, the operator of the world’s largest Internet network and second largest long-distance phone company filed for bankruptcy in 2002. As a result, the state experienced a major blackout. … retailers have filed for bankruptcy in 2020 so far: Select a retailer to learn more about their bankruptcy. Here are some of the biggest retail bankruptcies so far this year, in order by the date of filing. One of the world’s largest automakers filed for bankruptcy in June 2009. Bankruptcies in the United States averaged 43607.22 Companies from 1980 until 2020, reaching an all time high of 82446 Companies in the fourth quarter of 1987 and a record … Bankruptcy filings this year have already surpassed what we saw in all of 2008. It emerged from one of the largest corporate bankruptcies within weeks of filing for it. Bankruptcies in the United States decreased to 21655 Companies in the fourth quarter of 2020 from 22391 Companies in the third quarter of 2020. 4- General Motors (2009), $82 billion. Here is a closer look at the major retail bankruptcies of 2020 so far. They had $691,063,000,000 in assets prior to bankruptcy. In this case, PG&E, the largest utility company in California, fell victim to the 2000-2001 state electricity crisis. 14 of the biggest bankruptcies of 2020—and who might be next in 2021 Phil Wahba 12/21/2020 Freezer failure leads to middle-of-the-night vaccination rush; CDC mandates masks on public transit. Northern California natural gas and electricity provider PG&E recently announced its intention to file for bankruptcy protection. Ten major Texas retailers sought protection from the bankruptcy courts, and not all will reorganize. Here's a list of the 11 largest U.S. bankruptcies of all time. What happened? Pier 1 Imports A pedestrian walks past a Pier 1 Imports Inc. store in New York. A list of the biggest companies that have filed for bankruptcy during the coronavirus pandemic, ranked by assets. According to Dept.org, an online resource that tracks bankruptcy statistics in America, most current bankruptcies are filed by consumers--not by businesses. Before filing for bankruptcy, Lehman Brothers Holdings Inc. was the fourth-largest investment bank in the U.S. Due to Lehman’s involvement in mortgage origination, it … The biggest bankruptcy of all time was declared by Lehman Brothers on Sept. 15, 2008. 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