I am afraid this mess might be the one that completely discredit...

I am afraid this mess might be the one that completely discredit GXY management in the eyes of all the stakeholders.
It would be a real shame. They have done a terrific job saving the company and, despite the current environment, have been holding quite well. Of course it could have been better, of course they should have fought more to protect the SP, but there is nothing "terrible" in what they did.

This would change everything and people would remember them for it.