Companies are abstract legal entities, separate from the people who run them. Companies don't have a physical form that can be arrested and locked in a cell.
When a person is put in jail, they are not protected from their creditors. Very often their houses get foreclosed, assets sold, etc. This is considered to be a just part of the punishment.
The concept of corporate personhood is laughable when the most powerful method of coercion that the state has to ensure all people obey the law is completely inoperative for corporate people.
Why can't I just reincorporate myself as a Delaware C Corp, shoot up a school, and then pay a fine and walk away?
Imagine something similar to Chapter 11 in which they are temporarily protected from their creditors, but at the same time cannot function.