Ultimately, every business will close. All businesses fail eventually.
In March 2025, the oldest business in North America filed bankruptcy. Hudson’s Bay Company, incorporated May 2, 1670, filed under the Canadian equivalent of Chapter 11. They quickly determined that it would not be able to put forth a viable restructuring plan and entered into liquidation. In June 2025, after 355 years, all its retail stores closed.
General Motors was one of the largest industrial companies in the world.
Continue Reading Bankruptcy Isn’t the End: Tools Lawyers Can Use to Help Business Clients Rebuild

