The potential answers are there:
1. The property assets have potential for either cash, trade, merger, buyout, sell-off part, etc. LBSU does not NEED leaverage. It needs a white knight and preserving the existing assets. When you are between a rock and a hard place that means you take what you can get. Please no comments about what assets.
2. In a merger or buyout, we at least get shares in a hopefully better company than exists now with more value to sell those shares for. LBSU is not in bankruptcy nor is that the situation... and can continue for years to hold some of its assets with well known finagelling. Creditors know that too... they are not experts in liquidating the holdings and prefer
3. Stock price is reflective of lack of news and perhaps management, not the underlying assets. You just might be surprise at what happens. The worse case scenario we can already guess so more bad mouthing does not span the realm of potential outcomes.
After 35 years in business and investing this is nothing new nor dead until the doors are closed legally in writing. The future looks grim, but we are still breathing...