When Your Employer Files for Bankruptcy

Many companies today are filing for bankruptcy protection.  Some file for Chapter 11 restructurings, while others flat out liquidate via a Chapter 7 and close their doors.  What does this mean for an employee?  Fortunately a company in restructuring will continue to operate its business as usual.  This means some, if not all, jobs will be salvaged because there has to be someone there to run the company.  However if your company is liquidating it is closing its doors and will have no need for employees. 

Employees of companies in liquidation face temporary setbacks, such as delayed or insufficient paychecks and major roadblocks like the loss of a job.  This has caused many to file for bankruptcy themselves in recent years.  The Fears Nawatachi Law Firm has seen many employees in this predicament and can assist you with your bankruptcy needs.