What exactly does “bankruptcy” mean anyway, in an NHS paid for by taxes where no service can go to the wall like Woolworths?
It means that the management who have fucked up get turfed out.
Woolworths did indeed go bust. But we didn’t then start dynamiting the buildings the moment the receiver was appointed. When a hospital goes bust we’ll similarly not tear the place down. New management will be found to run those very valuable assets.
That’s what bankruptcy is. A method of getting assets out of the hands of those who manage them badly and into the hands of those who do it well.