Wednesday's situation demonstrates the need for more financial oversight by the authorities.
We need a process where club owners can be forced to sell if creditors, players, stadium staff etc are not paid on time, instead of waiting years and having information coming out drip by drip thus leading to multiple financial penalties. Chansiri has been less than useless for many years yet the EFL have done nothing, possibly because there was no mechanism for them to act.
If the preferred bidder is only offering to cover a tiny percentage of debts then perhaps it's better if the club went under and started again. There would be no shortage of buyers if they could retain the use of Hillsborough.
The other thing we need is more frequent analysis of clubs financial circumstances in the hope problems can be spotted early. This may go against standard business practice (or practise) but too many disreputable arseholes are being allowed to own football clubs.
Having said all that: Wednesday should be able to survive in the third tier even if they start on minus fifteen so they can spent the 26-27 season preparing for a major promotion push in 27-28.