Can SGH be saved, page-80

Banks are cornered.....
There is little doubt that if left to continue this will collapse and end up in the hands of private equity.
Someone will take it out for a song after the banks foreclose.
Another scenario is for banks to accept a write off of debt say about half in order for sgh to survive. Saw it done before with olh where the nab wrote of about 5mill of 11m loans. Not sure if really plausible when this situation is nearly a 100 times bigger but the banks are going to lose money here anyway.
Or a debt equity swap.

In summary....
Pull the loans sgh will not find alternatives and the co gets wound up and sold to pe for a song...banks lose.
Write off some of the debt...banks lose but possibly recover more than a fire sale....
or
a debt/equity swap where holders get massively diluted.

This whole situation is the banks problems now and make no mistake they are pretty well backed into a corner.
Sgh can restructure all it likes but the damage to brand and credibility and the loss of staff is going to hit revenues hard compounding an already precarious situation...this is not a solution.