I find it hilarious when people use this argument. It shows they know absolutely nothing about business.

Without the option of bankruptcy, business growth would stagnate. Bankruptcy allows leader and borrowers to minimize risk in an inherently risky world. Trump and his lenders obviously saw his businesses as a worthy risk for investment. When it didn't play out as planned, Trump had basically two options.

1. Let the business go under. People lose their jobs, lenders lose all of their debt, etc.
2. File for Chapter 11. Basically, renegotiate contracts, debts, etc to minimize loss. Employees still have jobs, the business is still running, and lenders have an opportunity to make some of their money back.

I'm not saying Trump is an incredible business man, but he does beat the stats. For the number of companies he's opened, statistically, many more of them should have filed bankruptcy.