General Motors Chapter 11 Bankruptcy

General Motors filed for Chapter 11 bankruptcy protection on June 1, 2009, after decades of declining market share, high labor and pension costs, and the 2008 financial crisis pushed the company toward collapse. The U.S. and Canadian governments provided billions of dollars in bailout financing, and GM emerged from bankruptcy just 40 days later as a leaner company, with the U.S. Treasury holding a majority equity stake that was fully sold off by 2013. This description is adapted from Wikipedia contributors under CC BY-SA 4.0; changes were made. https://creativecommons.org/licenses/by-sa/4.0/