CBSPhilly is reporting that the Trump Taj Mahal is going to
file for bankruptcy and plans to close its doors in November. The news comes
amid reports that the Atlantic City casino has been negotiating with lenders
for more financial breathing room, and rumors that WARN notices may be around
the corner for 2,800 employees.
A source confirms
to CBS 3 Eyewitness News that the Taj Mahal has already begun the process for
bankruptcy and layoff notices could go out to workers next week. As of August,
the casino hotel had more than 2,800 employees.
“It’s
catastrophic, I mean what are those families going to do?” Taj Mahal customer Judy
Handzo said.
If the Taj Mahal closed, that would be the end of an era for
Atlantic City. For the first time in 30 years, the Trump name would not don any
functioning casinos in the resort town. (That would be a welcome site for
Donald Trump, who has already sued to get his name removed from the two
struggling casinos.)
Source: Philadelphia
Business Journal
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