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It's an unusual choice if frame building was all there was to it, but you don't know what other personal and business activities led to the level of indebtedness which made bankruptcy preferable to other solutions.
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Not earning enough to pay all the other bills/existing debts, or just being financially over-optimistic I'd imagine.
gbj_tester
Brommers
@M_V
How the hell do you go bankrupt as a framebuilder?
His workshop is in his home, can you really get into enough debt buying tubes and gas to justify it?