In 2008, the united states began to witness one of the worst recessions since the 1930s. the collapse of the housing bubble in 2006 led to a massive decline in real estate prices, affecting consumers and institutions, especially banking and financial entitles. severe liquidity shortfalls in the united states as well as other global markets led to a serious credit crisis. during the credit crisis of 2008-2009, several banks and other businesses went through a reorganization process or were forced to liquidate. consider the following statement: in january 2009, american electronics retailer circuit city inc. closed all of its stores and sold all of its merchandise. the above is an example of: a. reorganization b. liquidation.