Can it actually happen? Here's how close SGH are!, page-6

Keeping themselves staff in jobs yes would be management's first priority which aligns with lenders interests. Shareholders are yes very secondary but is that not reflected in the equity value shareholders retain in the company at this point?

The chart has shown this stock to be trading in a parallel downtrend for some time and not ever shown signs of breaking out of it. Even at these lows seeing that hard to change.

At this point just to ensure the companies survival I think the banks and slaters need to agree the recapitalisation. I use to play long bounces on this stock but after today I can't see myself doing that as even for me this stock is too risky and that is saying something.

I hope long term holders can salvage something in some form but remember hope is not a good investment strategy.