so a small hifi vendor with lots of ’alliances’ goes into receivership
so what? it still operates, the owners have their equity diluted or wiped out, debtors take a partial hit on their receivables, negotiate
some bigger fish in the pond (perhaps tidal itself, which is owned by private equity interests) will buy the ongoing concern or whatever assets, tangible or intangible, at a haircut, leave the mqa stuff in place as a selling point for the streaming service, or perhaps phase it out over time
life goes on