YMCA of Metropolitan Milwaukee expected to officially file Chapter 11 bankruptcy this week
MILWAUKEE (WITI) — The YMCA of Metropolitan Milwaukee is expected to file its Chapter 11 reorganization plan this week — either Wednesday, November 26th or Friday, November 28th.
The filing will set into motion the possibility The Y will exit Chapter 11 as early as February 2015.
After filing, creditors will be able to file objections and vote on the plan, which typically takes at least 60 days.
The Y has been selling off some of its properties to pay down its debt.
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