In early spring of 2017 the company wanted to refinance roughly $200 million of their $5 billion debt. The company faced low holiday income and had to file for bankruptcy and move to close stores. More than 30,000 company employees are going to be hurt by the fees of the bankruptcy. The nearly $350 million in litigation and professional fees will make
employees suffer without receiving their promised severance. These employees are moving to get protected severance in bankruptcies for future companies in similar situations.
If you are wrapped up in a bankruptcy and don’t know what to do, contact our law office at 816-524-4949 or visit our website at Hoorfarlaw.com.