When it comes to bankruptcy, you cannot expect that it will only be in the industrial or the service space. The worldwide recession as well as financial crisis has had many unlikely victims that have been obliterated in its wake. It is not only the Merrill Lynches and the Lehman Brothers of the world that have got obliterated. You also have so many other companies getting in for bankruptcy file, which just goes to indicate the broad based nature of the recession that has had the whole world in its wake.
Another company that is due to bite the dust is Zayat Stables which is a thoroughbred breeder. The company has filed fro Chapter 11 bankruptcy reorganization. This seems to be an attempt to have a court appointed receiver take over the company. The company is alleged to have defaulted on payments towards $34 million in loans. The Fifth Third Bank had asked the court to appoint a receiver. The company had done quite well in being one of the leading racehorse owners in al of North America. One of its best horses was Pioneer of the Nile that came in second in the Kentucky Derby after Mine that Bird, the winning horse. Seems even Pioneer of the Nile could not reverse the fortunes of its owner company.