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Dh's employer filed Chapter 11 today.

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It basically gives them time to try to restructure and pay their bills under court supervision. Sometimes that does mean layoffs and some level of operations change, but technically they're still "in business" and trying to survive. Some businesses successfully come out of Chapter 11, negotiate/pay off their bills, and go back to being solvent, but some don't.


If you hear that they've gone Chapter 7, they're closing down and liquidating.

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