Is this the end? Investigating firm and individual level outcomes post-failure

Research into entrepreneurial failure is increasing in prevalence. However, treatment of failure has tended to be at one level of analysis (firm or individual) and generally assumed a level of finality, marking the end of the firm, an opportunity, or, in some cases, entrepreneurial careers. In this paper, we interview 257 failed entrepreneurs and examine individual and firm level outcomes of entrepreneurial failure. Our results show that there are substantial levels of variance in regards to what happens to the firm and the entrepreneur post-bankruptcy. We discuss implications for future theorizing and research questions about entrepreneurial failure.