Businesses are legal fictions. Even if they go bankrupt, their assets, employees, and IP will continue to exist and can be used to start new businesses.
There's a reason you see same companies going into bankruptcy every few years or so. It's relatively cheap to acquire a failed company and shore up their financials.
Once that's done, you can loan their stock back to them at an inflated price, then file for an IPO. Things are good for a few years, until they can no longer make their loan payments, then they go bankrupt again and the bondholders acquire the assets of the failed company, lather, rinse, repeat, until there's no longer a viable company left, and the brands & IP are liquidated by the court.
