Yes.
Following that passage, appearing under Background
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"Machine’s primary customer, Bell Helicopter, ended its relationship with the debtors in November 2021, threatening Machine’s near-term going concern capacity and leading to the debtors’ board’s ultimate decision to cease all operations to preserve cash. The board and its advisors concluded that, given the proprietary nature of the Machine’s equipment, assemblies and processes, a sale to Bell would maximize the value of Machine’s assets for its stakeholders. With the exception of a relatively small amount of inventory and work-in -progress inventory, Machine’s offer to sell substantially all of its assets was rejected by Bell."
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I do not know the circumstances of this case, but one scenario that springs to mind is of a long established, family-owned company that has been passed down to a second generation which then, out of necessity or ambition, invites outside money and influence into the board room to secure survival or spur growth - with predictable consequences. And in this instance, what I am sure were unintended outcomes.
The restructuring document features comments about demand-vs-capacity issues in 2020. The crash investigation report features remarks about issues in 2017. Reviewers on Indeed.com claiming to be employees post remarks mentioning demand-vs-cap issues going back some time from 2021.
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