On Friday, Apollo began negotiations with the company's bondholders to devise the potential "prepackaged" bankruptcy, in which creditors agree on a plan to divvy up interest in the restructured company before a Chapter 11 filing, sources said.

"With a prepackaged bankruptcy, you could be in and out in a couple of months," said Marti Kopacz, national managing principal for Grant Thornton's restructuring and turnaround practice. "That is a much more cost-effective and timely way to go through bankruptcy."

"All options are still on the table," one source told The Post. "Currently, we're not expecting a filing this week, but that could always change."