faltering company exception
faltering-company exception. A provision in the Worker Adjustment and Retraining Notification Act exempting an employer from giving the required 60-day notice for a plant shutdown if (1) at the time notice was due, the employer was seeking capital or resources that would have allowed the employer to avoid a shutdown, and (2) the employer reasonably believed that providing the notice would have precluded the employer from obtaining the necessary capital or other resources. 29 USCA § 2102(b)(1). See WORKER ADJUSTMENT AND RETRAINING NOTIFICATION ACT.
