![]() ![]() He is suing the company to remove his name from the properties, which he says have fallen into disrepair and do not meet agreed-upon standards of quality and luxury. Developer Donald Trump owns a 10 percent stake in the firm, but no longer controls it. It missed its quarterly tax payment due last month, and says it doesn't have the cash to make an interest payment to lenders due at the end of the month. Trump Entertainment said it has liabilities of between $100 million and $500 million, and assets of no more than $50,000. The company also owns Trump Plaza, which is closing in a week. Trump Entertainment Resorts filed for bankruptcy Tuesday and threatened to shut down the Taj Mahal Casino Resort in November. The chips are really down now as the east coast gambling mecca of Atlantic City is poised to lose its fifth casino this year.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |