Quote:
Originally Posted by LIforrelaxin
The key here is to understand what type of backruptcy they filed for. Chapter 11 is a restructuring bankruptcy. It indicates that the company has taken a bad term, the need to restructer themselves and have some pertection for creditors while they do that.
Warranty work should continue to be piad, and honored..... as indicated in a earlier post, from a comment made by Winnisquam Marine.
Many companies file Chapter 11, it doesn't mean they are ready to go belly up.....
A notable company still around after Chapter 11........ Sears.......
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Correct. Another notable company that filed for Chapter 11 bancruptcy is K-Mart. Chapter 7 is the very end of the road where owners should start to be concerned. Chapter 11 is like you said, restructuring. Laying off workers is unfortunately a normal part of that "restructure".