
Toys R Us filed for Chapter 11 Bankruptcy last fall, but their recent announcement of liquidation of their stores could put employees at risk.
When a large corporation files for Chapter 11 Bankruptcy, the effects are felt by many. The Toys R Us liquidation is no expectation here in New Jersey. Attorney John Scura speaks with News 12 about what this means for employees as well as for customers who hold gift cards.
Scura, Wigfield, Heyer, Stevens & Cammarota, LLC encourages employees to check how their pensions are set up and make sure they are covered.
Possible Toys R Us liquidation puts 30,000 jobs at risk
News 12 New Jersey
Posted: Mar 15, 2018
A possible liquidation of all Toys R Us stores in the United States could put 30,000 people out of work.
The Wayne-based toy retail giant apparently broke the news to its employees Wednesday, according to a toy industry analyst. The chain filed for Chapter 11 bankruptcy protection last fall.
Bankruptcy attorney John Scura says pensions for large corporations like Toys R Us are typically set up in separate, protected funds but this is the first thing employees should check.
"There could be a shortfall on certain payments that are made to it,” Scura says.
March 16, 2018 John J. Scura III Bankruptcy, News, Business Bankruptcy
Read More »
Expanding a business requires more than just a business plan. There must be additional capital, cash resources or another source of funds that will help leverage the process. When this is not available, it might mean putting this expansion on hold; however, if such a business venture is unavailable due to financial problems, a business might need to restructure its finances or even consider debt relief options.
February 19, 2016 Scura Law Firm Business Bankruptcy
Read More »
When a company or a small business in New Jersey is no longer productive, is not producing a constant cash flow or are enduring financial problems, it might be a good idea to think of various strategies to address these issues. If business debt is the problem, filing for business bankruptcy is just one debt relief option to consider. Companies and business may also want to contemplate debt reorganization and other methods in order to keep the business running, allowing it to thrive well into the future.
April 15, 2015 Scura Law Firm Debt Management, News, Business Bankruptcy
Read More »
New England Compounding Center ("NECC"), a Framingham, Massachusetts pharmacy company which has been linked to a deadly nationwide meningitis outbreak, has filed a Chapter 11 bankruptcy case.
December 27, 2012 Christopher J. Balala News, Business Bankruptcy
Read More »
Bronx Parking Development Company operates the parking lots around Yankee Stadium, and even with significant cost to park there (as much as $58) the Company may be forced into filing for bankruptcy. The Company has defaulted on nearly $240 million of its bonds. Fans are finding less expensive alternatives such as the subway.
November 6, 2012 Christopher J. Balala Bankruptcy, News, Business Bankruptcy
Read More »
New Jersey small business owners understand that it can be difficult to run a business in today's economy. Fortunately, according to a recent study by Equifax, the number of small businesses declaring bankruptcy throughout the country is at its lowest point since 2007.
October 31, 2012 Scura Law Firm Bankruptcy, News, Business Bankruptcy
Read More »
New Jersey small business owners understand that it can be difficult to run a business in today's economy. Fortunately, according to a recent study by Equifax, the number of small businesses declaring bankruptcy throughout the country is at its lowest point since 2007.
October 24, 2012 Scura Law Firm Bankruptcy, News, Business Bankruptcy
Read More »