Many companies (Macy's, GM, Chrysler) have filed for a "Chapter 11" bankruptcy.

Discuss the major aspects of a company filing for bankruptcy in general and explain why a company would file for "Chapter 11" instead of "Chapter 7" bankruptcy.

Instruction: No more than five hundred words of discussion. Make sure to support your statements with specific examples that are supported by a citation and support your discussion with at least 2 Internet citations.

While you can use Wikipedia as a place to start your research, please do not use Wikipedia as a reference citation. Also, the textbook and any online dictionary or encyclopedia are not to be used as reference citations.

Please read the case and answer the questions. developing the answer with your own analysis. AND AVOID Bullets/lists - provide your own analysis and insight.