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 In Bankruptcy, Bankruptcy In The News, Blog, Chapter 11 Bankruptcy

A famous snack food may no longer be found on store shelves as the company that manufactures the product is filing for Chapter 11 bankruptcy this month. After being in business for decades, this once-popular brand will now be missing from stores across America. Company executives blame the labor unions for the bankruptcy say news sources. The company claims that it pays out $103 million per year just for employees’ pension funds. In addition to the 372 collective bargaining agreements that are in place right now, the company has had trouble staying afloat and paying its employees.

Members of the unions are putting the blame back on company executives. One labor union leader states that the company forced the Chapter 11 bankruptcy filing by not putting enough money into advertising and putting out products that were not high sellers. Furthermore, the company has failed to make any payments into the pension plan fund since last July. If your business is struggling and you need immediate help, contact the Malaise Law Firm to get assistance from a San Antonio bankruptcy attorney from our team.