Henry J. Heinz started a company that bottled horseradish. It went bankrupt in 1875. The next year he founded another company with his brother and a cousin.
Henry Ford’s first company, the Detroit Automobile Company, went out of business in January 1901 because “it offered a poor vehicle.” His second company became Cadillac after he left. He founded Ford Motor Company in June 1903.
Walt Disney’s animation studio in Kansas City, Laugh-O-Gram, went bankrupt in 1923. He moved to California “for a new start.” Milton Hershey’s first candy business went bankrupt in 1882. His second, in New York, also failed. In 1900 he sold his third, the Lancaster Caramel Company, for $1 million.