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Changes to Bankrupcy a Disaster



April 15, 2008 – Comments (0)

Read further down in this post on how changes to laws for retailers work

Retail workers are already ones not likely to be able to save money as they are likely to not make enough money to make ends meet.  Now if a retailer goes under, they are behind suppliers to get paid.  I don't have a problem with my gift card being taken away, well, that's what you get for trusting a business and not putting $ in the gift envelope.  I think owed wages should be the top of the list for what should be paid.

The new laws also mean that it is less likely for a company to come out of bankrupcy protection, or even manage to pay all bills.  They are completely stripped and they are robbed of what they need to turn it around, like employees and operating cash flow.  I am not sure the suppliers will do better when the merchandise is force to be sold by a bankrupcy company at drastically marked down prices where the bankrupcy company gets a good cut. 

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