Which U.S. automaker filed for Chapter 11 bankruptcy on June 1, 2009?

General Motors filed for Chapter 11 bankruptcy on June 1, 2009.

The automaker entered bankruptcy during the global financial crisis after years of declining sales, heavy debt, high operating costs, and the collapse of vehicle demand. Its filing listed approximately $173 billion in assets and $173 billion in debts, making it one of the largest U.S. industrial bankruptcies.

The U.S. government provided major financial assistance and became the company’s largest shareholder during the restructuring. General Motors emerged from bankruptcy on July 10, 2009, as a reorganized company commonly called the “new GM.”

Ford did not file for bankruptcy during the 2008–09 crisis, although it also experienced severe financial pressure. Chrysler did enter bankruptcy earlier in 2009. These three Detroit automakers are often discussed together, but only General Motors and Chrysler used Chapter 11 in that period.