You have probably used Heinz Ketchup before, but what you may not know is that the creator once filed for bankruptcy. In fact, long before introducing ketchup, Henry John Heinz filed for bankruptcy in 1875.
Henry John Heinz started his own company at the age of 25. Selling items like horseradish sauce and pickles, he and his friend were on their way to a profitable business. However, he found that his company was required to pay for one of the crops needed in his business. That crop produced more than they could afford, which ended up overwhelming his company’s finances. This lead Heinz to file for bankruptcy and dissolve his company.
After Bankruptcy
Henry John Heinz started a new company with members of his family. Together, they introduced a new condiment called ketchup. The company is still around today making the tomato ketchup as well as other condiments today.
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