go into Chapter 11

Today, if they have to go into Chapter 11, the odds of the owners keeping the business are much lower.

“If you’re going to go into Chapter 11, you may as well fix what’s broke,” said Jeff Kauffman, a Sterne Agee & Leach Inc. analyst in New York.

If a company has financial trouble, they might have to go into Chapter 11 or cease to exist.

"They have a lot of cash, but if they go into Chapter 11 then it's just a mess to collect anything."

His regular stump speech extolling isolationism, protectionism and fiscal stinginess is seasoned with attacks on "boodling" Congressmen, upholstered think tanks cooking up cockeyed new programs, and softheaded Trilateralists who would bail out Chinese communist Deng Xiaoping, the "85-year-old chain-smoking communist dwarf" but let Macy's go into Chapter 11.