$15 million in property damage and business interruption + $75,000 for bodily injury
Confidential settlement for property damage and business interruption in addition to settlement of psychological injuries claim for $37,500
Paul J. Walsh III
This catastrophic fire broke out while customers and employees were inside the department store. The fire spread quickly, engulfing the building within minutes of its discovery and destroying the 75,000 square-foot store. Property damage was estimated at $15 million. The fire was alleged to be electrical in nature. A confidential settlement of the $15 million property damage and business interruption claim was reached.
An employee sued the owner of the store for psychological injuries because of the fire. The psychological claim was settled for one-half of her stated demand.