Oh brother Rune. Every major corporation in the nation has numerous bankruptcies for failed business units and franchises. It's part of doing business. Some models succeed and generate profits. Most fail within five years.
Using bankruptcies as a sign of failure is only appropriate when you come out of one personally bankrupt.
The laws protects people like Trump who use it as a means of doing business. Yeah, some businesses fail, but he has 6 to his record, quit giving him a pass, this guy is a loser who had to become a reality TV star to save his ass.