Originally Posted by
LongHornFlyer
I don’t disagree with any of this…what I don’t understand is, why wait and burn through another $250M (or any amount for that matter) if the most likely outcome at this point is liquidation? If they don’t see a viable path forward, why not pull the plug now and keep as much as they can?
Because they still have the possibility of finding a suitor or some other hope under a second BK. Obviously they’re going to want to reduce costs further. What’s really bizarre is why didn’t they have a “real” BK the first time around. They had to have known they weren’t going to make money. I guess maybe not so obvious.