%0 Journal Article %A Denise K. Wildes %A Wendell H. Adair, Jr. %A Kristopher M. Hansen %T Why Companies File for Chapter 11 %D 2002 %J Turnaround Management %P 103-105 %V 2002 %N 1 %X This article provide insights into the reasons companies file Chapter 11 including excessive debt, lack of adequate working capital, mismanagement, and as a tactical maneuver. The advantages of Chapter 11 include a “breathing spell” from interest expense and legal proceedings by creditors, and the opportunity to void burdensome contracts and leases. %U https://guides.pm-research.com/content/iijturnmgmt/2002/1/103.full.pdf