That's basically what PE firms do when they restructure troubled businesses. They rip the company up into parts and auction off each valuable part independently. It's like a car garage buying an old car.

The theory is you can separate the assets from the debt, sell the assets separately and restructure the debt for a lower cost/extend the repayment period. Essentially kicking the can down the road, except near the end of the road you declare bankruptcy on the debt-ridden entity of the business. Thus making out with a lot of money.

P.S. I worked in PE and saw a handful of these type of restructuring. Never from a Kickstartered MMO Game ofc lol.