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Bankrupt, Financially And Morally

, , , | Legal | June 22, 2021

It’s a Monday in the 1990s. My neighbour is new; they bought the house last week. I see him walking home while I work in my garden and I immediately see that something is wrong. We don’t know each other that well yet, but you know the walk when you see it.

Me: “Hey, is everything all right?”

Neighbour: “[Home Appliance Chain] went bankrupt.”

Me: “What? When did that happen? “

Neighbour: “I went to their store… It was empty. “

Me: “They closed?”

Neighbour: “No… It was empty. Nothing was there. Just… floors and walls.”

Me: “Hold up… Did you buy something from them?”

Neighbour: *Nodding* “I bought everything from them: refrigerator, stove, washing machine… I paid for everything.”

Me: “Oh, no. When?”

Neighbour: “Saturday. How… how am I supposed to tell my wife about this?”

I was lost for words. It turns out the store went bankrupt and managed to keep it from everyone… even their employees! Their employees made wonderful sales on Saturday and closed the shops — they were closed on Sunday — and when they returned on Monday, the stores were all cleaned out by the owners, and the employees were told they were out of a job. 

Since the owners filed for bankruptcy, it took weeks before it was granted, and then the remaining money was split over suppliers, employees, and on the bottom of the list, clients. It won’t surprise you that there wasn’t enough to repay my neighbour. 

I did not have the funds to help them financially, but luckily, they had family and friends who helped with loans and donations.