The PEU boys reneged on employee severance pay mostly because they don't care about the little people. Cash goes to sponsor via management fees, deal fees and dividend bleeding. None is left for the hardworking people who've spent their career at Toys R. Us. However, just before declaring bankruptcy Toys R Us paid executives $8 million in bonuses.
Employees reached out to Robert Menendez and Cory Booker for help. That pair may toss Toys R Us employees an anchor. Blue Team corporacrats work for the sponsors of the world, not the common man..
Update 6-19-18: The Atlantic weighed in on the PEU stain left by the Toys R' Us bankruptcy.
Update7-2-19: CBS News reported Toys R Us "workers are getting $2 million, a fraction of the $56 million in fees awarded to Kirkland & Ellis, the law firm representing Toys R Us, the decision is still a victory of sorts. That's because pensions and severance payments are labeled as unsecured debt when a company files Chapter 11, making them low priority and less likely to be paid. A bankruptcy judge on Thursday approved the settlement to a class-action lawsuit filed on behalf of 33,000 former Toys R Us workers, a figure that means each will receive about $60."
