Milwaukee YMCA emerges from Chapter 11 bankruptcy
This afternoon, the YMCA of Metropolitan Milwaukee announced that the United States Bankruptcy Court has approved its exit from Chapter 11 bankruptcy.
"For your family, this means that not only will we continue to offer all regularly scheduled day camps and all planned operations at Camp Minikani, but we will also work to bring the Y camp experience even further into our community by expanding into more area parks and other public spaces," said Sonja Coster, vice president of program operations for the YMCA of Metropolitan Milwaukee, in a release.
Last June, the YMCA – which owns Camp Minikani and runs day camps throughout the area throughout the summer – filed for Chapter 11 bankruptcy and announced the selling of the majority of its real estate assets. After restructuring, the Y filed its formal plan of reorganization with the court last month – a process that included the sale of over 70 percent of the Milwaukee Y's owned properties; the sale of its former charter school, the Young Leaders Academy; and finalizing the process of reducing staff by 55 percent to better align with its smaller footprint.
"Today, the Milwaukee Y is a stronger, more focused, debt-free organization that is positioned for even greater community impact," Coster said.
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