Mitt Romney's  business record, Did Romney bankrupt companies?

Mitt Romney the corporate raider who used leveraged buy-outs to “loot resources, lay-off thousands, and drive companies into bankruptcy.” If that is the same as making then go bankrupt, then I'd be obliged to say, ’tis likely. Here is the four bankruptcies that  Mitt and the team of the raiders of  Bain  need to be answerin’ for at a debate.

1. American Pad and Paper (Ampad) – bought by Bain in 1992, went bankrupt in 2000. (8 years later)
2. Stage Stores – bought by Bain in 1988, went bankrupt in 2000. (12 years later)
3. GS Industries – bought by Bain in 1993, went bankrupt in 2001. (8 years later)
4. Dynamic Details – bought by Bain in 1997, went bankrupt in 2003. (6 years later)
5. Has Mitt Romney Ever Let a Company Go Bankrupt?

Of course he has! But let’s get one thing straight before we go any further. Just because a company goes bankrupt doesn’t necessarily mean it goes out of business. In fact, in some cases, going bankrupt can be the best thing that ever happened to a company. The media in recent weeks has pilloried Mitt Romney, saying that if Romney had had his way, Detroit (meaning GM) would have gone bankrupt. This obviously plays on the ignorance and fears of the many people who simply don’t realize that a Chapter 11 bankruptcy is exactly what did happen with GM! In fact, Romney suggested a structured Chapter 11 bankruptcy for GM a full 4 months before President Obama announced his plan for GM to take billions in taxpayer money and then go bankrupt.
Bankruptcy can be a way for a company to start with a clean slate, without the crushing debt and obligations that have it in a stranglehold. It can also be a way for creditors to establish a legal claim on the assets of a company in the event of the company’s insolvency. And it can be an orderly way for a company to continue operating, and yes, employing people, even though it is insolvent.
Over the course of the next few weeks, Romney-critics from coast-to-coast, armed with the newest set of White House talking points, will be calling Mitt Romney a “corporate raider” who looted companies and then “let them go bankrupt.” Just for the record, the company that Romney co-founded, Bain Capital, has an amazing record of turning companies around, turning them into successful, profitable engines of growth. Has every investment paid off? Certainly not. Remember, Bain specialized in turning around troubled companies. Liberals seem to think it’s easy to turn a money-losing company into a profits machine – that anyone sufficiently cutthroat can make it happen. Well, if it were that easy, everyone would be doing it. At Bain, for every failed deal, there were at least 100 successful ones. But of course, the critics only want you to look at the failures. So, let’s look at one of them – Ampad.
The one failure you’re going to be hearing a lot about this season will be Bain’s 1992 acquisition of Ampad, or American Pad & Paper, the self-proclaimed inventor of the legal pad. The way the AFL-CIO and the Boston Globe told the story (as part of Sen. Ted Kennedy’s campaign narrative), Romney’s Bain Capital bought Ampad for a mere $5 million, ran up its debt to $444 million, laid off 450 workers, and then let Ampad go bankrupt while they pocketed a cool $100 million in profits. Of course, if life and business were that simple, then all villains would wear bushy handlebar mustaches, and tie innocents to the railroad tracks.
Here are the nitty-gritty parts of the Ampad story that the liberals don’t want you to know, and are never - ever- mentioned in the articles detailing the demise of Ampad: