When it comes to Donald Trump, it appears that he doesn't do anything half-way. Everything has to be the biggest, greatest, and most luxurious experience possible. This belief lies at the heart of the Trump philosophy – a philosophy which he has extended into the world of bankruptcy.
Trump’s casino-hotel business empire has declared Chapter 11 bankruptcy, also known as a reorganization bankruptcy, four times since 1991. Each time, he has managed to bring his empire back from the brink of destruction and shed billions in debt. Trump himself has never filed for personal bankruptcy.
However, despite the tendency of his political foes to use Trump’s history of bankruptcies as a starting point to question both his business acumen and his abilities as a leader, the reality is that successful businessmen sometimes use bankruptcy as a tool to protect their business during financial downturns.