5 Bankrupt Companies That Came Back

3. General Motors Company (NYSE:GM)

One of the biggest automobile manufacturers in the world, General Motors Company (NYSE:GM) suffered a turbulent time during the Great Recession, which hit the auto industry particularly hard and had to file for bankruptcy in 2009, which resulted in reorganization of the company. The company ended up selling assets as well as subsidiaries and its logo to a new company, while keeping liabilities, therefore enabling the new company to be free of debt. There was significant investment by the US Treasury Department as well to ensure that the company remained afloat, though it made a $10 billion loss on its investment. The Treasury Department also invested $17.2 billion in the financial arm of General Motors Company (NYSE:GM), and was able to make a $2 billion profit from its investment when it sold the shares. It is estimated that the bailout of General Motors Company (NYSE:GM) resulted in the preservation of 1.2 million jobs as well as nearly $35 billion in revenue.

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