They have lost hundreds of millions of dollars. They can't pay their bills. They are being sued - no less than 13 very significant lawsuits. Anyone one of those lawsuits will be the final nail in the coffin.
No one wants to do business with them. They are now required to pay for product up front and they have no money to do so. Drexler can only ask his daddy for so much money.
They have no future. They are simply a court filing away from bankruptcy.