Folks, I think when McIntyre talks about firms not being “able to raise enough money to cover the entire amounts they have borrowed,” and thereby leaving their lenders holding “the bags,” he describing the kind of situation in which companies are forced to seek bankruptcy protection.
He just doesn’t want to use the “B” word.
The other option is to start selling off poorer-performing properties. Which McClatchy would only do in desperation, since the value of any one of McClatchy 31 newspapers is dropping fast.
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