In April, Delaware’s Electric Cooperative (ECO) filed for Chapter 11 bankruptcy protection, and its owners are asking a court to let them stay open while they work to reopen.
While it was originally reported that the company would not reopen until 2018, the company’s owner said he was “very optimistic” about the prospects of being able to reopen by the end of the year.
ECo said that its employees and contractors would be paid for all their labor in the months after the bankruptcy filing, but that they would have to work overtime while it is being processed.
In the meantime, ECo’s employees will be getting a salary and getting bonuses, but they will not receive unemployment insurance, said ECo CEO Scott T. Williams.
He added that the workers would not be allowed to work during the bankruptcy process, and that the employees will have to keep their jobs until ECo is able to pay them wages.
The ECo owners filed for bankruptcy protection in January, and the Delaware Industrial Bankruptcy Court approved the reorganization plans in February.
In January, the ECo board approved the bankruptcy plan and put together an emergency plan for the company, which included the hiring of several new management teams and the hiring and training of a new executive team.
In March, the board approved a plan that would allow ECo to reopen in July.
The Delaware Industrial Commission on March 8 approved ECo for Chapter 7 bankruptcy protection.
But the commission also approved the emergency plan that was put together in March.
In a statement on Monday, Williams said that the emergency plans were designed to allow Eco to “restructure as quickly as possible.”
Williams said the plan will help the company survive as it looks to reopen, and said that ECo had hired outside legal counsel to help with the reorganizations.
The company has said it plans to hire a new chief executive and a new president in the coming weeks.