Play Live Radio
Next Up:
Available On Air Stations

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.