I think the business model is dead. If I were a shareholder, I'd rather have the bird in the hand. Hand the company over to private equity. I'm sure someone out there would like to try their hand at turning around this storied brand (seemingly the first one, perhaps, to ever enter this sector?)
But sure, yeah, they could make it to next Xmas, perhaps. Balance sheet isn't horrible yet. It's just going down fast, with no turnaround in sight.