Chapter 11
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The store is a ghost town
Home office is not a ghost town. Hired many new directors and VP's
It's a ghost town.
They keep laying off and running everybody left to the ground. How much work do they think one person can do? You never know where you stand, truth from fiction, constant high stress. Service is suffering. People have had it.
"Cost reductions" is code for cutting employee benefits and laying off people.
No business can shed 10% revenue annually and survive.
No debt. Excellent cash flow. Lots of opportunity for cost reductions.
If revenue is off and debt is greater than debt, why wouldn't they file Chapter 11? They used a dull, bloody axe to slash payroll. Do their vendors deserve more than their long term employees? Many of those silly contracts could be broken through the BK court. It makes sense. It is an option they must explore. They owe their employees that much.
Never.