Respond to the following in a minimum of 175 words:

Prior chapters discussed the role of debt capital and its advantages and disadvantages. In cases of extreme financial distress, firms file bankruptcy and their assets are liquidated to pay off creditors. But financial distress can be less devastating at times when a firm may survive financial distress and recover. A firm in financial distress can mean many things. Identify the types and causes of financial distress. Support your response with an example.