More info on when a company files Chapter 7 and what happens to employee pay:
https://www.citybarjusticecenter.org/wp-content/uploads/2016/11/Bankruptcy-Basics-A-Guide-for-Employees_2016.pdf
This was posted by @TXSqAcv-tls in another thread. Bumped to the top so more people can see it.
wHAT ABOUT PENSION FUNDS? Are they where they should be? Employees Pension were taken from pay (EDMC stopped making any match a couple a years back) I'd hate to think they pulled off a Bernie Madoff.
Its not a chapter 7 or 11. They are just closing campuses, the DCEH business is still going. Starbucks closed 100 locations recently, they are still in business. It is a strategy not a bankruptcy.
Righr🤪
They are going to have to pay faculty/staff so they show up to work. Stop spreading fear and anxiety.
Thanks