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By J.J. Conway
Inflation, a tight labor market, high interest rates, ongoing supply chain issues and changing consumer trends have been identified as factors contributing to a significant uptick in corporate bankruptcies filed in 2023. According to a September Market Watch report, there have been more U.S. corporate bankruptcies thus far than in 2021 and 2022 combined.
Some of the bankruptcies have been household names. In October, citing declining sales and legal exposure to mass opioid litigation, Rite-Aid Corporation filed for bankruptcy protection under Chapter 11 and hopes to restructure its national operations. WeWork filed for bankruptcy soon thereafter.
Both short- and long-term employees …
Read the full article at: https://milawyersweekly.com/news/2023/11/21/commentary-bankruptcies-rising-but-safeguards-exist-for-employee-benefits/