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Friday, December 06, 2024 U.S. Senator Josh Hawley (R-Mo.) joined U.S. Senator Dick Durbin (D-Ill.) in introducing the Protecting Employees and Retirees in Business Bankruptcies Act. The bill would empower rank-and-file employees in the bankruptcy process, allowing them to retain more of their wages, benefits, and retirement savings when their employer files for bankruptcy. Current laws don’t prioritize employees […]
CreditorWatch chief economist Ivan Colhoun said businesses were facing the same cost pressures as consumers, including higher electricity, insurance and rental costs. “Together with some greater caution in discretionary spending and softness in interest-rate-sensitive sectors of the economy, this unsurprisingly has led to higher voluntary business closures and some rise in insolvencies,” he said. Loading […]