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Milwaukee YMCA Submits Plan to Emerge from Bankruptcy

The reorganization plan the YMCA of Metropolitan Milwaukee filed Sunday with U.S. Bankruptcy Court, would leave the 'Y' with a smaller footprint here.

Under the proposal, the YMCA would, among other steps:

- Sell more than 70% of properties it owns in metro Milwaukee

- Transfer some programs to other organizations

- Use sale proceeds to repay as much debt as possible

- Reduce staff by 55%

The YMCA says it reached by plan by working with banks and other creditors, so it is confident all parties involved will be satisfied. It is requesting a hearing date as soon as possible, with hopes of emerging from Chapter 11 bankruptcy by the end of January.