Abstract
This study investigates the failure and aftermath of state owned enterprises (SOEs) of an emerging economy, Bangladesh. Failure of SOEs of emerging economy has been investigated by many researchers during the last few decades. This study is an extension of previous research. Through the comparative case study, this study tries to explore the scenario of failure of SOEs, the causal factors of failure, remedial actions and aftermath in SOEs. The findings indicate that different authorities from the policy maker to the operating level employees cannot avoid the responsibilities for failure. Even proper restructuring within the ownership of government can drive the firm positively. It is expected that the comparative case study will help to make the decision for the concerned authorities of Bangladesh as well as the authorities of other countries of the world who are in the same position.