TY - JOUR T1 - Why Companies File for Chapter 11 JF - Turnaround Management SP - 103 LP - 105 VL - 2002 IS - 1 AU - Denise K. Wildes AU - Wendell H. Adair, Jr. AU - Kristopher M. Hansen Y1 - 2002/03/20 UR - http://guides.pm-research.com/content/2002/1/103.abstract N2 - 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. ER -