Ex-worker: Piggly Wiggly Employee Stock Plan To Pay Pittance
A former Piggly Wiggly worker says ex-employees of some of the chain's stores in Georgia and South Carolina are expected to receive less than 5% of what they invested in the failed supermarket operator's employee stock ownership plan.
Joe Pinto tells The Post and Courier that the first batch of payouts for Piggly Wiggly Carolina workers was mailed last week.
In September, a federal judge approved the $8.7 million settlement paid to about 6,600 employees. About a third will cover legal fees.
Piggly Wiggly executives agreed to sell land in Savannah to help fund the settlement. Pinto says the sale hasn't been finalized and former workers will get a smaller, separate check when the sale is complete.
An attorney for the plaintiffs did not immediately respond for further comment.