Sears and Kmart employees aren’t necessarily out of luck when it comes to receiving severance — but it all depends on timing (SHLD)
|01/12/2019||Posted by BusinessMediaguide.Com under General World News||
- The fate of Sears is still unclear, leaving thousands of jobs in jeopardy.
- But the question of whether or not Sears and Kmart employees will receive their severance checks from the bankrupt retailer largely comes down to when they were let go.
- Employees who were laid off shortly before the company filed for Chapter 11 bankruptcy protection in October are now technically unsecured creditors.
- These ex-employees can only receive up to $12,850 under US bankruptcy law.
- Sears and Kmart employees who lost their jobs after the bankruptcy filing might still be eligible to receive some severance, depending on case-specific read more >>>