Here’s how people get fooled into buying bankrupt companies

In 1906, American entrepreneur William T. Grant opened his very first ‘W. T. Grant Co 25 cent store’ in a small town outside of Boston.
The store became popular and fairly profitable. So Grant opened another. And another.
Three decades later, Grant’s retail empire was generating $100 million in sales (an enormous sum back then). And by the time of Grant’s death in 1972, there were over 1,000 stores bearing his name.
Investors loved W. T. Grant Company stock for its reliable profits and high dividends.
Many of our subscribers may remember W. T. Grant. The chain was among the largest in the US at its peak.
And then something completely unexpected happened…
In 1976, W. T. Grant Company declared bankruptcy.

This post was published at Sovereign Man on October 17, 2017.