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I’ve never worked for a bankrupt company but I represented plenty of them. If it was a liquidation, the legal team usually stuck around for a while (unless they decided to leave). For a restructuring it depended on how important their role was going forward.
Rising Star
Get out yesterday. There are very few good reasons to gamble on staying
Ignore the troll.
I would run searches in this bowl for “bankruptcy” and related terms. I recall this coming up before.
Conversation Starter
Lol. Mine filed for bk and then hired me to deal with it because they didn’t want to pay for a full legal team. I didn’t even realize they were in bk until right before I started and now I’m trying to leave…
Few times…I stayed to turn off the lights and then left. Last one out the door with the CEO.
In my first in-house gig - a highly levered spin from a F100 biz - I restructured our debt covenants five times in my first year (for actual covenant defaults), then in the coming four years we sold the equity twice, restructured the debt multiple times and did a complex and very large AR factoring arrangement (a somewhat new thing at the time), a 3a9 with PIK restructuring and ultimately a Chapter 11. I stayed on under a KERP post-petition and it was basically our chief restructuring officer, COO and me and my staff managing the business during the administration phase of the bankruptcy which culminated in a large PE shop buying the now much lower debt company which performed very well in the following years. This was the single best experience for learning, complex work and development I had in my entire career.
Lmao. How did you even get into this situation
Some random store? I wouldn't work there