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Bonuses and Bankruptcy: Retail’s Strange Bedfellows?

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As the U.S. moves deeper into a recession, one question that's arisen is whether executive bonuses are too high in a post-coronavirus world.
High executive bonus payouts have been slated at struggling firms that are either laying off workers or have targeted stores for closure.
CREDIT: AP Photo/Frank Franklin II

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Bonuses and bankruptcy are proving to be strange bedfellows in retail. Neiman Marcus is seeking court approval to shower key executives with millions in bonuses, prompting a Department of Justice (DOJ) attorney to contest the request. The debt-laden luxury chain, which filed a Chapter 11 petition in May, wants to dole out up to $10…

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