If Microsoft only went bankrupt, it would probably not update their products is often. It seems like every few years Microsoft word is being updated. What happens is that the message will come on the computer wanting to update and the computer can be used at that time. Sometimes they can take up to 2 hours or even longer than that to update. Then you’ll see it a difference in your computer and the way it looks but it should be functioning better.
So just because a company declares bankruptcy does not mean that they go under. If Microsoft declared bankruptcy they probably would still be a company. If Microsoft did go under then we would be stuck using the same versions of their products without any updates.