Bankruptcy is bankruptcy. You file for it because you believe you can establish the value of receiving relief, whether “voluntarily” while you’re still in reasonable operation, or (ideally not) after your bills are late and you’re out of cash. Bankruptcy relief is not granted if you are on a trajectory to remain in operation. Because then you’re asking a judge to help you cheat creditors.
Remember that when they filed they were hoping for a restructuring.
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