Bristow Group Inc (VTOL)

[mdimport]

Chapter 11 is now on the table. What will start to happen this coming week is suppliers demand payment COD to mitigate their risk when Chapter 11 occurs.

No-one wants to own debt in a company about to go bankrupt when they can be paid in cash immediately.

What will happen as a result near-term is $BRS finds a massive cash drain to keep it's suppliers providing goods and services.

Don't forget of the $202M remaining cash $BRS has, $100M is restricted. Reality is $BRS has less than $102M that it can use at will at present.

Going forward, by June 19th $BRS will file Chapter 11. That will likely coincide with the release of their missing financials, and in particular the "subsequent items" section which will outline the collapse in $BRS's finances.

The sooner Chapter 11 occurs, the more assets are preserved for shareholders post-bankruptcy. This is the only item up for debate.