Daniela Santamariña
Daniela Santamariña
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Bonuses before bankruptcy: Companies doled out millions to executives before filing for Chapter 11

Bonuses before bankruptcy: Companies doled out millions to executives before filing for Chapter 11

Add to list On my list The coronavirus recession tipped dozens of troubled companies into bankruptcy, setting off a rush of store closures, furloughs and layoffs. But several major brands, including Hertz Global, J.C. Penney and Neiman Marcus, doled out millions in executive bonuses just before filing for Chapter 11 protection, according to a Washington Post analysis of regulatory filings and court documents. Since the pandemic took hold in March, at least 18 large companies have rewarded executives with six- and seven-figure payouts before asking bankruptcy courts to shield them from...

October 26, 2020
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