Your skills will be valuable in b-school. M&A is useful for business development, and bankruptcy is useful for managing distressed companies. The less than 2 year work experience can be an issue; however, it's not a deal breaker. There's a FY student here at Fuqua from HLS who has less than average work experience. I think it all depends on the quality of your experience.
If you just want to brush up on business skills, you can check out some of the non-MBA masters program. Fuqua offers a MMS program (1 year). There's a UCLA law grad doing that this year. You will stand out in these pre-MBA programs that will allow you to land a promising offer. After you get some solid experience, you can also go back for an MBA.