Henry Ford, a young mechanic, started the Detroit Automobile Company in 1899. With an over-emphasis on perfection and without complete

mastery on the production techniques its plant could however produce only twenty cars over the next two years.

The Detroit Automobile Company finally went bankrupt in 1901 and was reorganized into the Henry Ford Company.

Things did not work out too well and Henry Ford eventually left the group in 1903 and started the Ford Motor Company.

He almost ran out of funds in Ford Motor Company as well before things finally picked up and the venture became successful.

Just a short version of the bankruptcy story of a great personality.