“…The failure of an organization can have a powerful impact on its members, mirroring the experience of a close friend or family member’s death (Harris and Sutton, 1986; Sutton, 1987), inducing in them a sense of grief and displacement as they struggle to make sense of its transition from an active entity to a defunct one (Shepherd, 2003; Walsh and Bartunek, 2011). Scholars have suggested that such episodes of retrenchment incline individuals to focus on and cling to organizational identities (Albert and Whetten, 1985; Gendron and Spira, 2010; Gerstrom, 2015; Rousseau, 1998; Walsh and Glynn, 2008). As they do so, however, they are likely to experience a significant level of dissonance as the criticism and blame that are surfaced by an organization’s failure stand in sharp contrast to the positive evaluations of its identity in which their identification was grounded (Ashforth et al, 2008; Frandsen, 2012).…”