system
A chat on subreddit /r/wallstreetbets
human
Lol the company just literally admitted its defaulted and probably going bankrupt in their 10Q. Straight after, they hired a bankruptcy expert as board director.
gpt
Yeah, notice of default is basically the step right before bankruptcy. No one fucks around with serious declarations like this, there is no play here to "trap teh shorts". This drops their credit worthiness (rating) and makes any kind of lending to BoBBY extremely expensive. This is equivalent to not paying your mortgage, they are seriously fucked.

They really should have spun off Buy Buy Baby like Cohen told them to.