New Year Comes With Casino Interest Deadline For Trump
Trump Entertainment has been battling the economy much like other casino companies. Trump, however, has a big problem that will come to fruition tonight. The company only has a few hours left before they run out of a grace period to make a interest loan payment.
The payment was due on December 1st, but the company received a grace period because they claimed they needed the cash to restructure their finances. that grace period ends today and so far there is no agreement in place.
In order for an agreement to be in place, the company is required to file a regulatory statement within two days of the agreement. No statement has been filed as of yet.
One of the options that is still being considered is to accept a prepackaged bankruptcy. That would put the company back into bankruptcy after emerging out of bankruptcy in 2005. It has not fared well since coming out of bankruptcy.
Trump's casinos have been struggling even before the economy took a turn for the worst. Now, the company is barely surviving and faces the realistic prospects of going back into bankruptcy.
December 31, 2008
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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