SGH can definitely survive and prosper, the business model still makes sense, and so does the purchase of PSD. The only thing which might upset that is that they appear to have been asleep at the wheel when DD was being carried out on the PSD purchase they have now got the company into a difficult financial situation and they don't appear to have rationalised operations sufficiently as they've acquired legal practices (economy of scale being the whole point of the exercise I thought)
However while the size of the debt is their biggest problem I also agree with many that it is also possibly their best hope because the sheer scale of it means the banks have a lot to lose and will be as keen to see this work as anyone. The only caveat to that is that we don't know what the banks contingency plans are if it doesn't improve as they'd like it to. That's the crux of it now really - not what is the company doing about it but what is the banks position on it. We know what the company is doing, with the banks looking over their shoulder they'll be throwing everything at getting it in order ASAP.
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