Betting Corp. Gets Permission to File Bankruptcy
Posted on Apr 29, 2011 4:10pm PDT
Suffolk County Off-Track Betting Corp. has reportedly received permission to file for bankruptcy. The company will now reorganize under
Chapter 9 where they will gain temporary protection from creditors. The company has reportedly already developed a reorganization plan that will cut the number of branches from 12 to six and lay off 16 employees.
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