Coronavirus is causing companies to declare bankruptcy. What does that mean for employees?

KYW In Depth: Coronavirus
Thursday, May 28th
One of the side effects of shutting society down for months is that a lot of prominent companies have declared bankruptcy, and more are likely on the verge. So what does that mean for the company, and what does it mean for the employee who's reading the financial section on their phone and suddenly finds out their company declared bankruptcy? Bruce Grohsgal, Professor in Business Bankruptcy Law at Widener University's Delaware Law School joins KYW In Depth to talk about what corporate bankruptcy does, what it means for employees, and the consequences of the coronavirus pandemic that are rippling through companies.
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