It was all over the news when it happened. Lionel, the train maker, filed Chapter 11 on Nov 16, 2004. But a lot of the news stories got some critical details wrong. It’s not the first time a Lionel bankruptcy confused people.
Lionel has been bankrupt before, but the company has changed ownership numerous times so it’s not the same legal entity that went bankrupt in the 1930s and 1960s. There have also been numerous rumors about bankruptcy after 2004. These are usually dealers trying to create artificial demand to clear inventory.
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