5 Biggest Companies That Went Bankrupt

3. Worldcom

Total assets at the time of bankruptcy (in billions of dollars): 103.9

Date of bankruptcy:  July 21, 2002

In its heyday, Worldcom was the second biggest telecom company in the US, after AT&T (NYSE:T). However, it was embroiled in a major accounting scandal in 2002, where fraudulent methods were used to hide the loss of earnings of the company. The subsequent furor and attention surrounding the company saw the company declare bankruptcy.

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