You seem to be wearing rose colored glasses. I’ve worked for several companies that went bankrupt and nobody wanted to buy these companies. Here are some of the real issues you need to consider.
Lawsuits! Many bankrupt companies are buried in lawsuits. Either they owe money to somebody or somebody owes them money. I worked at one company for example, where the owner tried to sell off his interests in his company to a large conglomerate. The conglomerate did a three month study of our business. At the end of that period, the conglomerate withdrew its buy offer. Their on site rep cited the large number of lawsuits the company was entangled in as the main reason for withdrawing.
He also noted that many of our customer accounts were substantially in the arrears, our on hand inventory was out of control ( $50,000.00 of working inventory and $350,000.00 of useless inventory ) and many of our suppliers would never do business with us again. He further stated that repairing our company’s reputation would be a major undertaking.
Also, many of the good employees had left the company. This left only a few good employees and a bunch of losers.
And, contrary to your statement, many of our creditors were not willing to negotiate a lower settlement to resolve our accounts. That may work in buying a house that has been foreclosed on, but in very few other places.
These are the real issues you face when you buy a bankrupt company.