BANKRUPTCY: Nortek Moves Down the Path

Nortek, declares "Almost Bankruptcy" again, which as we all know is the step before bankruptcy as it continues to cajole and threaten its creditors to accept its Chapter 11 plans.  "Not one more step coppers, or I'm putting a bullet in my head, and it's lights out!!!"
Is this a common business strategy?  Well, certainly its genius.  We can't understand it, have no idea what it's trying to accomplish, but private equity folks at Thomas H. Lee Partners, L.P thunked it up, and just know'd that them's big brained folks that can done turn lead into gold.
Wouldn't you imagine it would be a bit difficult to get credit for materials and components with crazy talk like that?
Nortek Press Release