Well, my wise ass remarks have smacked me in the face. Not me but my octogenarian parents and my wife's septuagenarian cousin. A long time local oil company offered a deal last year to prepay for heating fuel for a given delivery period. My parents bought ahead, several thousand dollars worth. Now the company, in the beginning of the heating season, states they are closing. Prepaid customers get screwed unless, as the newspaper article states, they paid by credit card. I'll know more later. http://www.lehighvalleylive.com/breaking-news/index.ssf/2013/11/norton_oil_co_prepay_customer.html#incart_river
That is sad news if it hits your relatives.
I am sure it doesnt end like this.
If someone buys the company, they take on the debt.
Or if they fold and do not get bought out, they still have the assets to sell,
and I am sure it will pay off their debt.
If the company was open for 70 years, they have to have been good people,
but if new management turned them into greedy money lovers, they will pay in the end.
Sounds like the company has money/assets so things may be bad and get worse,
but should turn for the better at some point.
I dont think a lawyer would be cost effective unless needed at the end.
I would not be surprised if the DA gets involved with everyone else calling them fast.....it is cold out!