article thumbnail

What Is Corporate Bankruptcy?

YoungUpstarts

The legal process by which a company declares that it is unable to pay its debt and need some relief is termed as corporate bankruptcy. After filing bankruptcy one may become debt free. Filing bankruptcy is not a failure; it is a way to restart your life. Two types of bankruptcy: Chapter 7: The U.S It will help him a lot.

article thumbnail

Master of Customer Acquisition, Matt Coffin, On Startups …

Both Sides of the Table

I recently sat down with Matt Coffin , the founder of LowerMyBills, which sold for $400 million but was very nearly a bankruptcy only a few years early, and talked “startups.&#. I figured if Matt was on the verge of bankruptcy and one mentor changed his trajectory, what if we had a formalized, community-wide program?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

My Life as a CEO (and VC): Chief Psychologist

Both Sides of the Table

My first company was founded in Ireland, headquartered in England and had country operations in the UK, France & Germany. Equally I had to spend time with the heads of sales & marketing to keep them confident I wasn’t going to undermine their authority in the country operations.

Ireland 319
article thumbnail

Startup Lessons: 4 Companies Facing Product Lawsuits

The Startup Magazine

When conducting business, it is crucial to make a profit and keep your operations running smoothly. The company had to file for bankruptcy later that year. Remington was founded in 1816 and operates today as the United States’ oldest gun maker. Its remaining assets were acquired by a Chinese- and U.S.-owned Remington’s Rifles.

article thumbnail

The Great Retail Reinvention: How the Internet Is Reshaping the Way We Buy Clothing

View from Seed

In 2017 alone, we’ve seen widespread store closures or bankruptcies from apparel retailers, including: True Religion. Despite these challenges, we are very bullish that this category will yield some very important, long-lasting companies that will change the way the apparel industry operates and is experienced by consumers.

Internet 209
article thumbnail

Why Startups Are Ready For A Reboot

YoungUpstarts

NBC News points out several companies that filed for bankruptcy during the later months of the crisis. Many of these businesses operated on shoestring budgets and tiny margins, which the pandemic’s challenges all but obliterated. The upside of having a massive, scaled business is that the profit potential is unmatched.

article thumbnail

Tripwire Marketing: From Bankruptcy to Over 1 Million Dollars in Profits in One Year

ConversionXL

In 2015, 9-figure apparel retailer Karmaloop.com filed for bankruptcy. That’s profits generated via the existing operation and customer base with no need to fundamentally change the business or plow more money into customer acquisition. The company had been bleeding cash, losing six figures per month. They brought me in as CMO.