It looks like the lenders are going to be the new owners, that's as much as going belly up and selling the assets to the debt holders. 'restructuring' is just to put a pretty face on it.

They seem to be losing money hand over fist, and I wonder if they're going to 'restructure' what it is that they plan to do to stop the drain and become profitable post-restructuring. Without a really good plan it is just a postponement of the inevitable.