In the first place, going Chapter 11 does not mean the company will never do business again. They make a lot of cars that people still want and THOSE will still be kept in production by whoever acquires their business.
It simply means that the markets get to sort out which of their products are good and which are bad and with that, they learn to be more competitive and build better cars that PEOPLE REALLY WANT ( instead of the money-losing Chevy Volt for instance ).
“instead of the money-losing Chevy Volt for instance “
The car that Obama said he would buy when he was done stinking up the white house.
And he never did, of course.