Tag #Corporate Bankruptcy

What are the immediate consequences for Hudson's Bay Co. employees receiving long-term disability benefits under the company's uninsured ASO arrangement, given the ongoing liquidation?

Hudson's Bay Co. employees receiving long-term disability payments through an uninsured administrative services only (ASO) arrangement face losing benefits as the company liquidates. Over 250 employees, including retirees, are seeking legal representation due to the risk of losing their crucial financial support. The lack of insurance means that if Hudson's Bay cannot restructure or sell parts of the business, these benefits could vanish.