Edward Altman

Filing Chapter 11 isn't always the end: both companies (and individuals) have bounced back from bankruptcy, in some cases to move on to remarkable success. But for Strauss Auto, bankruptcy came to seem less like a chance to reorganize and more like a habit it couldn't break. Strauss Auto's Chapter 11 filing last month was its fifth since 1979, and it was accompanied by the closing of its remaining 46 auto parts stores and the intention of filing a plan of liquidation, according to the Wall Street Journal and other published reports.