Chart has short term potential, page-503

AHS, I don't think the comparison with Dick Smith is a great one - a private equity fraud it was always "nothing but water" to use an old phrase.
ARI had years of negative cashflows and an incompetent management with ruthless debtholders.
It seems likely MRM will report negative cashflows this half, for the first time since the slump started around 2 years ago.
There are a small group of very strongly entrenched companies that I am 100% sure will survive - suitable for investment. On the other end of the scale there are some companies in such a terrible position failure is a certainty - shorts.
In between for the majority of companies the answer is maybe. I think people should think carefully before declaring a company bankrupt.
By not supporting companies when times are tough it becomes a self fulfilling prophecy - the low shareprice preventing recapitalization by capital raising.
To me the most important bit of investing is admitting what you don't know and a lot of the time that means patiently waiting for and reviewing results until you find what you are looking for - easy to understand certainty about a business.
There are some companies which need to be euthanaised by short sellers, Quindell and Dick Smith are recent examples. ARI is a very sad case, many disgruntled former shareholders and workers.
Don't be so quick to pronounce the same fate as a certainty for others. The facts are inconclusive and the consequences pretty devastating. Best Wishes for holders and those that power through the tough times.