If creditors opt to move for Chapter 7, things could move very quickly in completely uncontrolled fashion. Look at the Toys R Us page for how suddenly things wound down. You could be out on the streets in a matter of days.
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I'm not referring to March closings. I'm referring to April closings post Ch 7 when unneeded stores were consolidated. You underestimate the efficiency of professional liquidators, who will quickly eliminate unneeded labor overhead.
When a party asserts in court that you're so broke you might not be able to pay the lawyers, much less other unsecured claims, and you don't even bother disputing that, then yeah, severance isn't even worth mentioning.
There were stores that were closed within a week of Chapter 7 at TRU. Don't look at the last stragglers as a measure of the whole.
Anyone who willingly gets onboard with SHLD as a new hire is either horribly desperate or foolish.
"You could be out on the streets in a matter of days."
For people in headquarters, maybe. Not stores. TRU declared Chapter 7 in early March 2018. The stores remaining at that time didn't finally shut down until late June 2018. Liquidation takes months.
Rise up retail will assure plenty of severance for all.
Glad hours were cut. I am lucky to have another income, and feel that one of these paydays we will be left holding the bag as the expression goes.
The local Sears is hiring for a few departments. These might not be long term jobs,you think, :>)