Mo,
I have been thinking of your comment :
“I can’t comment on ethical issues, as I’m not aware of them. But if it was just a “simple” case of “business failed, oops, let me start again with a new business” then I’m not sure what the problem is.”
Possibly some here had in mind that several suppliers as well as real estate agents were owed thousands, hundreds of thousands and in one case over $1 million.
http://dytbxbqvpce4z.cloudfront.net/wp-content/uploads/2014/10/GoLiteBankruptcy01.pdf
What I am thinking is that if you were one of those creditors maybe “you could see the problem”.
Two years after I left a place I worked for, for over 20 years, the business went bankrupt leaving also about $5 millions in debt.
Some of the money was owed to other shopkeepers that I knew personally because of close business ties with them. Whilst they were going bankrupt the owners of the place I worked for were still flying about in business class and dining in very expensive restaurants .
I know for a fact that at least some of those creditors did not think : oops , let them start again…