I had the same problem when I worked at Borders, when I started working there the policy was to give everyone stock options once or twice a year, the closer things got to the bankruptcy, the less they were worth. As early as 3 years before the store went bankrupt (right about the time my stock options matured) the stock was worth less than the original price of the options so you couldn’t sell them, and it just got worse right up to the bankruptcy.
I had the same problem when I worked at Borders, when I started working there the policy was to give everyone stock options once or twice a year, the closer things got to the bankruptcy, the less they were worth. As early as 3 years before the store went bankrupt (right about the time my stock options matured) the stock was worth less than the original price of the options so you couldn’t sell them, and it just got worse right up to the bankruptcy.