Arandell gets court OK of $160,000 key employee retention plan

By Sarah Lizee

Olympia, Wash., Nov. 4 – Arandell Holdings, Inc. obtained court approval of a $160,000 key employee retention plan, according to an order filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, the debtors have identified 16 non-insider employees to receive payments under the KERP.

Arandell said the KERP allows it to use the non-insider personnel who are critical to the success of the cases and the sale process, without disruption to the debtors’ employment of essential personnel, and recognizes the substantial additional demands and pressures that have been placed on the KERP participants.

Menomonee Falls, Wis.-based Arandell operates a web offset printer. The company filed Chapter 11 bankruptcy on Aug. 13 under case number is 20-11941.

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