Bankrupt Furniture Brands Seeks To Hand Out Bonuses

Law360, New York (September 13, 2013, 6:48 PM ET) -- Bankrupt Furniture Brands International Inc. on Wednesday asked a federal judge in Delaware to let it pay more than $5 million in bonuses to 55 employees, including seven company insiders, if its assets are successfully sold at auction.

The manufacturer, which hasn’t made a profit in six years, said the bonuses would be paid for reaching incentives that “will not be easy.”

“A company’s decision to file for Chapter 11 necessarily creates difficulties for its employees and can lead to retention problems, low morale and low...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required