[PEN-L:11245] Montgomery Ward bounces severence checks

[Jim Westrich <westrich@xxxxxxx>]

Montgomery Ward sent the following letter on July 9th to 400 former
employees fired on June 25th:

		Letter to employees
                             	From the corporate office
		
                    ATTENTION:

                      As you probably heard, Montgomery Ward filed for
                      protection from creditors under Chapter 11 yesterday.
As a
                      result of this bankruptcy, your recent severance
                      check/direct deposit cannot be honored. Because this
                      payment is not considered part of current employee
                      compensation, the bank will not clear your severance
                      payment issued yesterday.

                      We currently are reviewing this situation and the
impact of
                      the bankruptcy on our ability to make this payment. As
                      soon as we know more about the disposition of these
                      payments, we will contact you.

                      We apologize for any inconvenience, but wanted to inform
                      you as soon as possible to minimize the impact that
                      depositing the check or an assumed direct deposit would
                      have on your account.