2008 economy packed punches
Amid a deepening recession, a number of big-name brands filed for bankruptcy protection or went out of business in 2008. Here’s a list of some of the biggest:
Retailers
Mervyns LLC filed for Chapter 11 bankruptcy protection in July and began liquidation sales at its remaining stores to wind down its business.
Linens ‘N Things filed for bankruptcy protection in May. It announced liquidation sales at its stores in October after failing to find a buyer that wanted to operate the company.
Steve & Barry’s filed for Chapter 11 bankruptcy protection in July, then later abandoned plans to keep stores open and said it would liquidate.
Banks or investment firms
Bear Stearns Cos. was bought by JPMorgan Chase & Co. in March in a deal orchestrated by the government.
Lehman Brothers Holdings Inc. declared bankruptcy in September, the largest ever in the United States.
Airlines
ATA Airlines filed for bankruptcy April 2 and abruptly ceased operations the next day.
Aloha Airlines shut down its passenger service in March after filing for bankruptcy.
