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A comment on Amazon terminates iRobot deal, vacuum maker to lay off 31% of staff. Parent comment

Re:Amazon terminates iRobot deal, vacuum maker to lay off 31... by throwaway2037 on Monday January 29, 2024 @10:40PM (#39186140)
Great point: In US bankruptcy law, "Chapter 7" is liquidation, and "Chapter 11" is re-org. Often, a well-managed Chapter 11 bankruptcy can allow a company to reduce debt burden and emerge as a stronger company, saving many jobs in the process. Chapter 11 bankruptcy is common in the US airline industry.
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Re:Amazon terminates iRobot deal, vacuum maker to lay off 31... by bombcar on Monday January 29, 2024 @11:10PM (#39186324)
Chapter 11 is basically finding a lower bidder - the lenders are willing to take ownership of the failing company.
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