YMCA of Metropolitan Milwaukee files for Chapter 11 bankruptcy
MILWAUKEE -- The YMCA of Metropolitan Milwaukee is filing for Chapter 11 bankruptcy.
The organization said Wednesday that a restructuring plan will call for the organization to establish an urban Milwaukee Y comprised of centers within or close to Milwaukee, while selling the majority of its owned real estate assets.
All of its centers, camps and programs will continue throughout the bankruptcy process, as will employee wages and benefits, according to a release.
The YMCA said it has built up debt exceeding $29 million.