Selected Essays of Dean A. Shepherd
Chapter 25: Learning from Business Failure: Propositions of Grief Recovery for the Self-Employed
Businesses fail. In 2001, 12,457 U.S. businesses ceased operations, only to have their assets liquidated and the proceeds remitted to creditors (chapter 7 bankruptcy). This statistic understates the number of business failures bacuse it fails to account for those businesses sold or merged with another firm to avoid bankruptcy.
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