They probably did not have significant debt, by today's standards.
So they shrunk down to minimum size and waited for the market to come back. (Losing all the jobs in the mean time and making the depression worse.)
Off Topic » in reply to Query..How did GM, Ford, Chrysler, etc STAVE off Bankruptcy During the DEPRESSION?
So they shrunk down to minimum size and waited for the market to come back. (Losing all the jobs in the mean time and making the depression worse.)