How quickly will that $2B evaporate in the scenario of say, a 40% stock market correction? I don't know how to calculate that.

But you have to consider when that happens, everything goes to shit. People stop spending. So their revenue drops too. Plus the stock value. And then they run out of cash.

Can they restructure those debts? No, probably not because the interest rate would be astronomical right? Or do I have something wrong with that train of thought?

I figure they'll be forced to liquidate and close many stores