re deep in the hole further down
So one company invested so much of itself into one investment that this bankruptcy will bankrupt it? More than one questionable choice here then.
As far as not getting back more than their investment, if they do actually get back their original you might consider them lucky. They made a risk evaluation and the company failed, breaking even would be a break for them.
Now I realze next is the claim the business didn't make money only because of unreasonable greed by the baker's union. Even anyone that believes that's the only cause, shouldn't this type of risk assessment included an evaluation of how the union relations would likely affect futures, so that's part of the bet. I would think since this was not the first round of concession demands in the last few years that labor problems would have been expected. Probably that contributed to a fire sale price the investment company salivated over how much they were going to get out of this company's cash flow problems.