It doesn't matter whether it's an individual or a once-thriving corporation. Many paths lead here and some actually lead away. Some companies ask the court for protection from creditors, while they work their way back to business health.
Some fortunate companies do.
With the Internet Bubble bursting, no one would be surprised to see a long line of dot-coms filing their cases. This was readily apparent in a report filed recently by Joshua Kwan, a staff writer for the Mercury News. I was reminded that it's not uncommon for the failure of one business to lead to the failure of another. DSL gets you access to the Internet up to 25 times faster than your normal telephone line. In my area, it's being offered by everyone from America Online to tiny, local Internet Service Providers.