Could the Trump Taj Mahal Be Facing Bankruptcy?
A Chapter 11 bankruptcy filing may be possible by Trump Entertainment Resorts.
This is not good news for Atlantic City especially after the closings of Showboat and Revel and the scheduled shutdown of Trump Plaza on September 16th.
The Trump Taj Mahal's quarterly report was released in August and a restructuring could be on the horizon.
According to NBC 40, ‘A source familiar with the situation says that Taj Mahal has informed UNITE HERE Local 54 that WARN ACT notices may be issued to employees in the near future.
A resource center will be reamin open at the Atlantic City Convention Center for recent laid-off casino workers. Workstations will be set up to help workers’ with claims for the state Department of Labor. Social service organizations and other agencies will also be on hand to help.
The resource center is being called “AC Unites Here” and it will be open from 9 to 5 through September 10th. The center will move location after the Trump Plaza shutdown on Septmebr 16th. The new location for “AC Unites Here” will be announced at a later date.