system
Given the following post, respond as if you're commenting on Reddit:
human
ELI5: Why do some companies file bankruptcy but keep operating, while others dont?

They always say in the news that a company filed for chapter x bankruptcy, but what do they mean?
gpt
The act of filing bankruptcy serves many purposes, including protection from debtors. The "default position" is that the company is going under, but then the argument goes that if you can get it back and running then you can return _something more than zero_ to those who are owed money by said organization.  So...thats better than going under to all parties (employees, lenders, suppliers, etc...).  So...as long as you can demonstrate that you're fucked and that without bankruptcy relief you'd cease to exist then you can get bankruptcy.

The ones that don't continue to operate are the ones where there is no clear path out of bankruptcy.  For example, if the company filing bankruptcy had no customers then it would seem unlikely that a restructuring of debt would result in a healthy company capable of returning at least something to lenders or suppliers, or one that could pay its employees.