Yes, it is. However, this only makes sense when there is a viable business model to rebound to. That is not the case with Solyndra. It is a dead fish. Absent government funding, there is no market - private investors didn't buy the load of crap that was Solyndra. The market spoke and Solyndra died - it never turned a nickels profit.
If they can’t get the money to come out of bankruptcy with a viable business plan they will enter chapter 7. A lot of companies that enter chapter 11 and attempt to reorganize don’t make it. Solyndra probably fits in that category.