If The Company I Work For Filed For a Chapter 11.....?

Question

Should I be concerned about my job position?

Do you reccomend that I Look for a new job even though my boss said that i need not worry?

How serious is a chapter 11?

Answer 1

Yes, you should be concerned.

I recommend that you look for a new job -- just in case.  If everyone bails out your present employer is sure to fail.  I am sure that the managers have been told to reassure everyone in order to prevent that from happening.

Any bankruptcy is serious.  In some cases companies wind up going into receivership.  In other cases they pull out and become successful.  

A lot depends on why they are in trouble and whether or not the problems are fixed.  

Hope this helps

Jerry-the-bookkeeper