Said this a few weeks ago but this story, for now, is dead.
Rangers are not going bust anytime soon, the "good guys" inherited an almighty mess and from what I see they are slowly but surely sorting it out.
So long as there isn't pressure to repay the working capital loans any time soon they will continue to borrow it until they can reasonably get back into a positive cash flow. I would imagine this will take promotion (now guaranteed) and subsequently European football (far from guaranteed).
I would think it is in their interests to trim their cost base as I'm guessing sympathetic shareholders will only go so far. On promotion to the prem it will be interesting to see how hell for leather they go on challenging rasellick. That will be crucial to their recovery.
For what it's worth I think they have a decent manager in place who can make them competitive at least for Europe without spending a wad of cash. In this regard they are in good stead.
This is the reality of it folks, as much as I hate to say it, they are doing ok.
I really do hate to say it.