Comment Re:Did you bother to read the story? (Score 1) 59
Unfortunately, it's a fairly standard business tactic.
Corp X has assets and debts. They sell the assets to Corp Y, which includes products, staff, equipment, etc. Corp X holds the debts. Wen they declare bankruptcy, there's no way to recover the debt, so it's gone.
Corp Y may be operating in the same office, with the same people at the same desks, doing the same jobs. The only real difference is that employee paychecks now say the new name, as does all new marketing materials and letterhead.
So what about the people owed money from Corp X? They get nothing. Or if they're lucky there's something left and they'll get pennies on the dollar.
Sometimes it's done for the right reasons, and they will work out deals with those owed. For examine (if I read the article right), 2600 is owed $100K. That may be broken up to $10K/mo over 10 months, or $1K/mo over 100 months. In the end, they get their money. Unfortunately when they already have high dollar events scheduled, it hurts.