Sometimes Chapter 11s are the smartest way to go.
You no longer have to worry about someone believing you.
In fact filing bankruptcy is never the preferred way to go. Otherwise, actual successful companies would be doing it.
I never said preferred. Do you like UNO's Bar and Grill?
Never ate there. The theater I go to serves UNO personal pizzas. Good Stuff. Let me guess, there is a story about how bankruptcy saved their business.
Correct. They went bankrupt. You never knew. It was a reorg and allowed the Company to survive. Commerical bankruptcy is not the same as personal one.
ok…so? And if they had run their businesses better, would they have had to do it?
It’s not the business sometimes companies lever up to pay the executives and then get buried under the debt. Could be a variety of reasons.