Sears just barely staved off liquidation, but thousands of retirees will lose their life insurance benefits, according to CBS.
that his fellow retirees were concerned about life insurance even before the company declared bankruptcy. Olbrysh didn't immediately reply to Business Insider's request for comment.
In the wake of the news, critics blasted the struggling retailer on social media, pointing out that Sears previously received court approval to dole out $25 million inOlbrysh told"Whether they can get away with it or not has to do with the vagaries of bankruptcy law and how it works on benefits plans," Paige said.
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