No Bankruptcy Bonuses
A trustee of the U.S. Bankruptcy Court in Delaware rejected a request from Gottschalks’ attorneys for up to $1 million for bonuses for two of the bankrupt retailer’s top executives and to help retain employees while the company restructures under Chapter 11 bankruptcy protection. According to the Fresno Bee, Gottschalks requested up to $500,000 in bonuses for Chairman and CEO James Famalette and Executive Vice President and COO Greg Ambro to compensate for their efforts to lead the company through bankruptcy.
