this post was submitted on 01 Nov 2023
258 points (97.4% liked)
Technology
59311 readers
5006 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Any idea if this is a proper (shut down) bankruptcy, or a get cheaper leases bankruptcy?
It’s a “we paid our execs all our cash” bankruptcy
Based on the debts and lack of revenue they have. My guess it will be chapter 7 (wind up and liquidation) and not 11 (debt restructure).
so you didn’t read the article