If your company files for ch11 is that a good thing?Though it has never been profitable?

Question

I have a 401 with them and benifits can they come back from a 300mil debt?

Answer 1

In general, chapter 11 is not a good sign, especially given the history that they have not been profitable so the chances of recovery are slim.  Seeing as you do not provide information regarding the company or the industry - which does make a difference (ie. an industry that would qualify for a federal "bailout") - I would suggest you start looking for another job.  You will be able to keep your 401K money and should be able to roll that to another 401K plan.  Benefits can be extended through COBRA and such, but it comes at a high price that you have to pay out of pocket.  

Best thing to do is to put your resume together and start looking for a new job with company that is financially sound.  Good luck!