I live in Connecticut, but eventually I'd like to move back to New Orleans. I grew up there; the pace is a bit slower. Plus, I love crawfish and po'boys.
The Philadelphia region does have capital, but there's no concentration of it.
Generally speaking, companies get into bankruptcy as a kind of meritocracy. Somebody made some sort of big mistake, to get into bankruptcy, and very often, a part of the mistake is too much leverage.
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