Business of… the world’s biggest bankruptcies
The first ever bankruptcy of a UAE developer is underway with a deadline for claims of Friday. Kipp was inspired to look at some of the planet’s biggest insolvencies.
January 5, 2011 2:24 by shafeer
Unlike some of the others on this list, Disney’s story shares the happy ending that his creations generally enjoy. Though today Disney is an established global brand known and loved for its timeless cartoons, Disney wasn’t always on top of his game financially speaking. In 1922, Disney started a film company with a partner in Kansas City. But the company went bankrupt barely a year later, when their distributor reportedly ‘cheated’ Disney. Unable to cover his overheads, Disney had to shut down operations and declare bankruptcy.
To say that Walt Disney bounced back is an understatement.