my employer had filed for chapter 11 bankruptcy. will there be any problem for h1b sponsorship

i am in US on f1 visa. i graduated in last summer. my status expires in coming july, so i need h1b sponsorship. A small software company has offered me a job & they are willing to sponsor if they find me suitable. but i found out in internet that they have filed for chapter 11 bankruptcy. will there be any problem for my h1b sponsorship? will USCIS approve my h1b visa if the company did not enter chapter 7 bankruptcy or remains in chapter 11 bankruptcy.