When do companies go bankrupt?

When they run out of equity, or when they cannot loan more money from the banks or other creditors?

Lockheed Martin has had negative equity back in 2017, but is now back.

MC Donald’s is in red now, and Boeing seems just to have larger and larger negative equity!

I would declare Boeing bankrupt now, but the banks loan them the money they need, so Boeing can keep on functioning, but is this fair for new stockowners, that they buy a stock, where they have negative equity, I mean had it been a small pesonal company instead of a stock-company, they would end up paying for their negative equity! 

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