One thing we know for sure -- A huge portion of the S&P 500 is exposed, the average consumer is pretty tapped for credit, and if people's stock accounts / 401ks go down they naturally retract their spending some. Which means a recession across all but necessities.

Plus loan rates are high meaning rational people either pay less for, or completely avoid buying houses, cars, and all the things that go with (furniture, yard maintenance tools etc)

If you declare bankruptcy, your creditors absorb whatever losses are unrecoverable. So it would depend on who is lending them the money.

Presumably the creditors would then own the DCs. The price to build them is a sunk cost (meaning: not actually a factor in determining what they are now worth), so they would either sell them off for their new value or else run them at market rates.

The big question then becomes: what is the market value of these things? Is it even positive? Creditors will eat the difference between that number and whatever they actually lent (less what they've been paid back so far, if anything).

Rhymes with "1800s railroads".