The bankruptcy of the Pacific Gas and Electric Company is one of the largest bankruptcies ever to befall a major US company. Here is a closer look at the major retail bankruptcies of 2020 so far. In this case, PG&E, the largest utility company in California, fell victim to the 2000-2001 state electricity crisis. 4- General Motors (2009), $82 billion. 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. 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. Bankruptcy filings this year have already surpassed what we saw in all of 2008. One of the world’s largest automakers filed for bankruptcy in June 2009. As a result, the state experienced a major blackout. Here are some of the biggest retail bankruptcies so far this year, in order by the date of filing. According to Dept.org, an online resource that tracks bankruptcy statistics in America, most current bankruptcies are filed by consumers--not by businesses. Here's a list of the 11 largest U.S. bankruptcies of all time. 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 … A list of the biggest companies that have filed for bankruptcy during the coronavirus pandemic, ranked by assets. It emerged from one of the largest corporate bankruptcies within weeks of filing for it. They had $691,063,000,000 in assets prior to bankruptcy. Pier 1 Imports A pedestrian walks past a Pier 1 Imports Inc. store in New York. The biggest bankruptcy of all time was declared by Lehman Brothers on Sept. 15, 2008. What happened? 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 … Ten major Texas retailers sought protection from the bankruptcy courts, and not all will reorganize. … retailers have filed for bankruptcy in 2020 so far: Select a retailer to learn more about their bankruptcy. The company filed for bankruptcy in January 2009 and had received about $2.3 billion in federal bailouts. Northern California natural gas and electricity provider PG&E recently announced its intention to file for bankruptcy protection. 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. Bankruptcies in the United States decreased to 21655 Companies in the fourth quarter of 2020 from 22391 Companies in the third quarter of 2020. 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